Bitcoin’s volatility index reached its highest level in 20 months, but traders aren't too sure if there's more pain ahead.
A key Bitcoin volatility indicator reached its highest level in 20 months after Bitcoin fell below $50,000, and futures traders now expect Bitcoin’s price might decline further.
Meanwhile, pseudonymous crypto trader Yoddha has declared it could be “the best buying opportunity of 2024.”
The Bitcoin Volmex Implied Volatility Index tapped 97.14 on August 5, the same day Bitcoin briefly dipped to $49,813, according to CoinMarketCap data.
