BTC: Market-Wide 30-Day Implied Volatility Index
Shown as its 3 Oct – 1 Nov 2026 sample; the latest readings and full history are included with Plus.
Our own 30-day implied-volatility index for the crypto market, a weighted average of each coin's index.
Why use it. One number for how much volatility the option market expects across crypto over the next month. How to read it. Higher: the market prices bigger moves. Compare with the BTC price: spikes usually come with falls.
Calculation. Each hour: the 30-day model-free implied volatility of each coin (bitcoin, ether, SOL, XRP, HYPE, AVAX and TRX) weighted by that coin's option open interest in USD. Model-free 30-day implied volatility, the method behind the VIX, computed by us from our ten-minute snapshots of Deribit's option chains: for the two expiries around 30 days, the out-of-the-money marks in USD summed over the listed strikes (each weighted by the strike spacing over the strike squared), then interpolated in total variance to exactly 30 days. An hourly value needs at least 8 usable strikes on both expiries; a coin whose chain is too thin at that hour has none. From 14 October 2026 13:00 UTC for bitcoin and ether and 17 October 2026 for the other coins, when our snapshots of those chains begin. Over that period the bitcoin and ether readings have run a median of 1.5 to 2 points above Deribit's own DVOL index, which uses a different construction.