Bitcoin volatility has dropped to the level at the beginning of the bull market

Implied volatility is usually calculated based on the options products traded on the market combined with the Black-Scholes formula, reflecting investors' expectations of the volatility of asset prices in the future

Statistics of the volatility data of Bitcoin and Ethereum from July 3, 2023 to July 2, 2024 show that the trends of the two are basically the same, and both have continued to decline since April. Among them, the implied volatility of Bitcoin has dropped below 50, while Ethereum has a certain difference from Bitcoin due to the uncertainty of the launch time of the ETF

In summary, the market judges that the short-term trend of $BTC and $ETH is still mainly sideways. According to historical experience and data trends, there is a possibility of a bull market in the second half of 2024