Recently, the stock and bond market volatility indices VIX and MOVE in the traditional financial market have risen amid risk aversion. Compared with traditional markets, Bitcoin's pullback once again stands out, showing almost no panic, and the Bitcoin implied volatility index DVOL has stepped out of the divergence trend.
The price of Bitcoin fell 7% this month. And Deribit's BTC DVOL index fell from (annualized) 75% to 70%. According to TradingView data, this is a continuation of the pullback from the March high of about 80%.
Since 2023, Bitcoin's implied volatility index has been positively correlated with its price, and it has rebounded with Bitcoin's price rebound, which is usually a feature of a bull market. (CoinDesk)