Bitcoin Volatility Index fell to 65.84 yesterday, a daily drop of 6.46%

According to ChainCatcher, the BitVol (Bitcoin volatility) index launched by financial index company T3 Index and Bitcoin options trading platform LedgerX fell to 65.84 yesterday, a daily decline of 6.46%. 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 B-S option pricing formula.