Treasury Volatility Soars as Bitcoin Options Remain Near 2026 Low
U.S. Treasury volatility surged on Thursday, September 24, as Bitcoin's options market remained near its 2026 low.
The ICE BofA MOVE Index, which measures expected volatility in U.S. bond yields, closed at 104.58 by 8 p.m. ET that evening (00:00 UTC Sept. 25), up from 78.56 on September 22 and 95.45 on September 23.
Bitcoin's 30-day implied-volatility index, BVIV, stood at approximately 37, close to a 2026 low near 35. This measure reflects expected Bitcoin volatility over the next 30 days based on options pricing.
The Cboe VIX, which tracks expected volatility in the S&P 500, closed at 15.67 on September 24, using data available by 8:15 p.m. ET (00:15 UTC Sept. 25).
Notably, Treasury volatility diverged from both U.S. equity and Bitcoin volatility during this period, as shown by the correlations between MOVE and VIX (-0.06) and between MOVE and BVIV (-0.37).