Bitcoin volatility index rose to 56.66 yesterday, with a daily increase of 6.52%.

BlockBeats reported on October 30th that BitVol, a Bitcoin volatility index launched by financial index company T3 Index in collaboration with Bitcoin options trading platform LedgerX, rose to 56.66 with a daily increase of 6.52%. BlockBeats Note: The BitVol index measures the 30-day expected implied volatility derived from tradable Bitcoin options prices. Implied volatility refers to the volatility implied by the actual option price. It is calculated using the Black-Scholes option pricing formula, which inputs the actual option price and other parameters except for the volatility σ to derive the volatility. The actual price of an option is formed by competition among many option traders. Therefore, implied volatility represents the market participants' views and expectations of the future market, making it the closest approximation to the actual volatility at that time.