At press time, the ETH-BTC DVOL unfold stood at -2.5, having hit a three-year low of -7.8 final week, in keeping with information supply Amberdata. Implied volatility, or IV, represents merchants’ expectations for value turbulence over a particular interval and is positively impacted by the demand for choices. A name choice represents a bullish guess on the underlying asset, whereas a put represents a bearish guess.