Bitcoin volatility index rose to 58.99 yesterday, with a daily increase of 0.72%.

BlockBeats reported on January 15th that the BitVol (Bitcoin volatility) index, launched by financial index company T3 Index in collaboration with Bitcoin options trading platform LedgerX, rose to 58.99, with a daily increase of 0.72%. The BitVol index measures the expected 30-day 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, which uses actual option prices and other parameters besides volatility (sigma) to calculate the implied volatility. The actual price of an option is formed by many option traders competing with each other, so implied volatility represents market participants' views and expectations of the market's future, and is therefore considered to be the closest estimate of the true volatility at the time.