PANews reported on November 24 that the Bitcoin Volatility Index (BitVol) launched by financial index company T3 Index and options trading platform LedgerX fell to 66.32 yesterday, a single-day drop of 0.29%. The BitVol index measures the 30-day expected implied volatility derived from the price of tradable Bitcoin options. Implied volatility refers to the volatility implied by the actual option price. It is the volatility inferred by substituting the actual option price and other parameters except volatility σ into the BS option pricing formula.