Bitcoin's Retreat From $70K Characterized by 'Vol Lethargy'

Deribit's BTC DVOL index, a measure of volatility expectations, has slipped to its lowest since early February.A renewed upswing in BTC's price to $70,000 may lift DVOL.

That's not the case in the bitcoin market, however, even though cryptocurrency prices tend to be positively correlated to technology stocks. Implied volatility is positively impacted by the demand for options or derivative contracts that give the purchaser the right to buy or sell the underlying asset at a predetermined price at a later date. A call option gives the right to buy and a put option confers the right to sell.

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