According to BlockBeats, the BitVol index, a measure of expected 30-day implied volatility derived from tradable Bitcoin options prices, has dropped to 50.79, marking a single-day decline of 1.99%. The index was launched by financial index company T3 Index in collaboration with options trading platform LedgerX.

The implied volatility is the volatility implied by the actual options price. It is calculated using the B-S options pricing formula, by substituting the actual options price and all other parameters except volatility (σ) into the formula. The actual price of an option is formed through competition among numerous options traders. Therefore, the implied volatility represents the market participants' views and expectations of the future market, and is considered to be the closest to the real volatility at that time.