Bitcoin may have bottomed at $60K, volatility data suggests

An analysis suggests that Bitcoin may have already formed a bottom around the $60,000 level, citing trends in key options market indicators. According to CoinDesk, the primary evidence is the behavior of two implied volatility indices: Deribit's 30-day Bitcoin Implied Volatility Index (DVOL) and Volmex's BTC 30-day Implied Volatility Index (BVIV). These metrics reflect expected price volatility over the next 30 days. Both indices surged to around the 90% level in early February when Bitcoin's price dropped to approximately $60,000. Historically, similar spikes in volatility have often coincided with peaks in market fear and the formation of price bottoms. For instance, implied volatility also rose to about 90% when Bitcoin bottomed out at $50,000 in August 2024 and at $20,000 in November 2022.