Bitcoin’s expected volatility has fallen to a 9-month low amid sluggish trading and an outflow of speculative capital, Bloomberg reports. The Bitcoin Volmex implied volatility index dropped to 36.11, its lowest level since September last year.

The Hyperliquid spot ETF (THYP) is showing rapidly growing trading activity. According to Bloomberg Intelligence senior analyst Eric Balchunas, daily trading volumes for the fund have steadily increased since launch and are now measured in tens of millions of dollars.

For most people, trading cryptocurrencies such as Bitcoin comes down to a simple question: will prices go up or down? However, there is another side to trading — volatility, which measures how dramatically prices can fluctuate regardless of direction. Volatility trading is already extremely popular in traditional financial markets, and CME now aims to bring this concept to Bitcoin.

Exchanges

The total trading volume on centralized crypto exchanges dropped by 48% from its October 2025 peak to $4.3 trillion in March 2026. Binance maintained its dominant position in both spot and futures markets, according to CryptoQuant data.

Capital inflows to Binance reached $1.17 trillion, which is 31% higher than in 2024. Trading volume in perpetual futures reached $24.6 trillion. More than 49.6 billion derivatives trades were executed on the exchange.