According to BlockBeats, on October 20, the BitVol (Bitcoin volatility) index launched by financial index company T3 Index and options trading platform LedgerX fell to 57.01, a single-day drop of 1.08%.

The BitVol Index measures the 30-day expected implied volatility derived from the prices of tradable Bitcoin options. Implied volatility is the volatility implied by actual option prices.

The implied volatility uses the B-S option pricing formula to infer the volatility by substituting the actual option price and other parameters except the volatility σ into the formula.