BitVol index dropped to 50.67, with a daily decline of 1.52%

On January 21st, the BitVol (Bitcoin Volatility) index launched by T3 Index and LedgerX, a Bitcoin options trading platform, dropped to 50.67 with a daily decline of 1.52%. The BitVol index measures the 30-day expected implied volatility derived from tradable Bitcoin options prices. Implied volatility represents market participants' views and expectations for the future market and is considered to be the closest approximation of the actual volatility at that time.