Bitcoin Fear Index BVIV surges nearly 20%, marking the largest single-day increase since February 5

ChainCatcher news, according to CoinDesk, the Bitcoin Fear Index BVIV surged nearly 20% on Tuesday, marking the largest single-day increase since February 5. BVIV measures Bitcoin's 30-day implied volatility, and this surge to 46.45% signals that panic sentiment has returned to the market after two months of calm.

For the past two months, Bitcoin market sentiment remained calm; even when it dropped from the May high of 82,000 USD to 75,000 USD last week, BVIV hovered near the annual low of 40%, indicating that the sell-off at that time was orderly rather than panic-driven. However, on Tuesday, Bitcoin's spot price fell by over 6% to 66,000 USD, causing the BVIV to spike sharply. The index is increasingly resembling Wall Street's VIX panic index, showing an inverse correlation with Bitcoin's spot price. Whether Tuesday's sharp surge is merely a one-day fluctuation or the start of a sustained period of volatility remains to be seen.