CryptoCompare’s Bitcoin Volatility Index Drops 5% As $BTC Consolidates Around $33K
As the Bitcoin price consolidates around $33,000 (for reasons given below) on Thursday (Jan 21), it is worth noting that CryptoCompare’s Bitcoin Volatility Index (BVIN) has fallen around 5.25% in the past 24-hour period.On December 3, 2020, CryptoCompare, a leading cryptoasset market data provider, launched the Bitcoin Volatility Index (BVIN), which was developed in partnership with the University of Sussex Business School. This innovative tool for Bitcoin traders provides a highly accurate way to understand Bitcoin’s 30-day implied volatility, i.e. how volatile Bitcoin prices are likely to be over the next 30 days based on traders’ expectations. In the past 24-hour period, BVIN has fallen 5.25%.