According to BlockBeats, on April 22, the Bitcoin Volatility (BitVol) Index, jointly launched by financial index company T3 Index and Bitcoin options trading platform LedgerX, rose to 75.99 yesterday, a daily increase of 3.68%. The BitVol Index measures the 30-day expected implied volatility derived from the price of tradable Bitcoin options. Implied volatility refers to the volatility implied by the actual option price. It is the volatility inferred by substituting the actual option price and other parameters except volatility σ into the formula using the B-S option pricing formula. The actual price of an option is formed by the competition of many option traders. Therefore, the implied volatility represents the market participants' views and expectations on the future of the market, and is therefore regarded as the closest to the actual volatility at the time.