Lin Chen, head of Asia-Pacific commerce at Deribit, wrote that the data shows that the DVOL volatility index of BTC has fallen to 48. Since the launch of the Bitcoin spot ETF in January, it has dropped to 41 in February. Generally, the volatility of quarterly delivery (next Friday) will be suppressed in the next few days; it is likely that the spot price will be flat later, and the volatility will be depressed to 40.