According to BlockBeats, the BitVol (Bitcoin Volatility) Index launched by financial index company T3 Index and Bitcoin options trading platform LedgerX fell to 57.11 on February 14, a daily drop of 3.02%. The BitVol Index measures the 30-day expected implied volatility derived from the price of tradable Bitcoin options. Implied volatility represents the market participants' views and expectations on the future of the market and is considered to be the closest to the actual volatility at the time.