[Bitcoin Options Implied Volatility Drops to Freezing Point, Signaling 'Significant Price Fluctuations' for the Third Time This Year] BlockBeats News, July 20: Crypto analyst Murphy pointed out that Bitcoin options implied volatility (IV) is currently extremely low, with 1-week IV at 33% and 1-month IV at 34%, both below the historical range of 40%, indicating the potential for 'significant price fluctuations' in the market. According to Murphy's analysis, there have been two similar instances in the past year. In early January, 15 days after IV dropped below 40%, BTC fell from $97,000 to $62,000. At the end of April, 14 days after IV dropped below 40%, BTC fell from $82,000 to $60,000. After June 15, BTC dropped from $66,000 to $58,000. Murphy noted that low IV is caused by a combination of market consensus alignment, accumulation of volatility arbitrage funds, and market makers' short gamma mechanisms, which together amplify the impact of unexpected events. He advised contract traders to be prepared. [Original Link]