Readings fell to 33%-34%, below Bitcoin’s historical 40% range, before a modest rebound to 35%; analysts Murphy and 10x Research said the setup could signal larger moves but remains inconclusive.
Bitcoin options implied volatility fell to unusually low levels, with 1-week IV at 33% and 1-month IV at 34%, before edging up to 35% after a phase low of 33% on July 15. Murphy said the earlier readings were below Bitcoin’s historical 40% range and echoed past low-volatility periods that were followed by declines from $97,000 to $62,000, from $82,000 to $60,000, and from $66,000 to $58,000. 10x Research said the rebound has drawn attention from options traders and could signal turbulence ahead, but it remains unclear whether the move marks a bottoming recovery or only a temporary pause before volatility declines further.