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Comparison Options BTC Dvol Index vs Spot

Bitcoin

Deribit's DVOL volatility index for BTC plotted against the spot price.

Why it matters

One line prices expected turbulence; the other shows what actually happened to price.

How it is built

The exchange's 30-day forward implied-volatility index beside the spot series.

What to watch

Volatility and price move in regimes: DVOL spiking against flat spot marks hedging waves before moves; collapsing DVOL in a rally is complacency, measured.

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