According to BlockBeats, on January 14, the BitVol (Bitcoin Volatility) Index launched by financial index company T3 Index and Bitcoin options trading platform LedgerX fell to 58.57, a daily drop of 2.11%. 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 about the future of the market, and is therefore considered to be the closest to the actual volatility at the time.