PANews July 24 news, according to CoinDesk reports, data shows that the 30-day implied volatility index of Bitcoin (BVIV/DVOL) has reached a historic high of 0.88 in the 90-day correlation with the S&P 500 volatility index (VIX), indicating a significant increase in the correlation between the crypto assets market and US stock market volatility. Currently, this correlation coefficient remains at a high level of 0.75.
Analysts point out that this phenomenon reflects that Wall Street institutions are dominating this round of the crypto market cycle. Markus Thielen, founder of 10x Research, stated that institutional investors are compressing volatility by selling large amounts of call options, causing Bitcoin price movements to increasingly be influenced by traditional market risk preferences. Since the beginning of this year, the BVIV index has decreased from 67% to 42%, while Bitcoin's price has increased by 26% during the same period, breaking the historical trend of both moving in the same direction.