According to BlockBeats, the BitVol index, a measure of Bitcoin's expected implied volatility, rose to 78.81 on March 6th, just below the one-year high of 79.92 recorded on March 4th. The index is a collaboration between financial index company T3 Index and Bitcoin options trading platform LedgerX. The BitVol index measures the 30-day expected implied volatility derived from tradable Bitcoin options prices. Implied volatility represents the market participants' views and expectations of the market's future, and is considered the closest to the actual volatility at that time. The actual option price is formed by the competition of numerous option traders, and the implied volatility is calculated using the B-S option pricing formula, substituting the actual option price and other parameters except for the volatility σ into the formula.