Bitcoin volatility index fell to 38.83 yesterday with a daily decline of 0.74%.

BlockBeats reported on October 15 that the BitVol (Bitcoin Volatility) index, launched by financial index company T3 Index in partnership with Bitcoin options trading platform LedgerX, fell to 38.83, a daily decline of 0.74%. The BitVol index measures the 30-day expected implied volatility derived from tradable Bitcoin options prices. Implied volatility refers to the volatility implied by actual option prices. It is calculated using the Black-Scholes option pricing formula, with actual option prices and other parameters except for volatility σ plugged into the formula to derive the volatility. The actual price of an option is determined by numerous option traders competing with each other, so implied volatility represents the market participants' views and expectations of the market's future, and is considered to be the closest to the true volatility at that time.