Bitcoin volatility index dropped to 58.57 yesterday, with a daily decline of 2.11%.

BlockBeats reported on January 14th that the BitVol (Bitcoin volatility) index, launched by financial index company T3 Index in collaboration with Bitcoin options trading platform LedgerX, fell to 58.57 on the previous day, a daily decline of 2.11%. Note by BlockBeats: 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 the volatility calculated by using the B-S option pricing formula and plugging in the actual option price and other parameters except for the volatility σ. The actual price of an option is formed by numerous option traders competing with each other, so the implied volatility represents market participants' views and expectations for the future market, and is considered the closest to the true volatility at that time.