A Bitcoin volmageddon may be brewing, key indicator suggests

Bitcoin could be heading toward a volatility spike, with the 30-day implied volatility index, BVIV, hovering in the 34%-38% range that has often preceded turbulence and price weakness. according to CoinDesk, the gauge is trading below its 30-day and 200-day simple moving averages, and bitcoin is holding just above $64,000 after a range-bound stretch since last Wednesday. The report noted similar setups before prior selloffs, including a drop from $74,000 to under $60,000 in late May.