**BitVol Index Hits New High, Indicating Market Volatility**
The BitVol Index, a volatility measurement tool for Bitcoin created by financial index company T3 Index and joint options trading platform LedgerX, rose to 60.87 on October 17th, an increase of 0.2% from the previous day. The index gauges 30-day expected implied volatility derived from tradable Bitcoin options prices, reflecting market participants’ views and expectations for the future of the market.
The actual price of options is influenced by competition among option traders, making implied volatility the closest approximation of the market’s true volatility at a given time. As the BitVol Index climbs to new heights, it indicates a potential rise in market volatility for Bitcoin in the coming days.
