I saw that Bitcoin's implied volatility has risen to 53.1%. It seems that geopolitical tensions are having an impact. According to Matrixport's analysis, it's a sharp increase from 38.5%, but actually, this level isn't that abnormal.

Compared to past data, it's roughly the same level as November last year at 52.2%, and it hasn't reached the 65.4% peak during the market correction in February. In other words, volatility is increasing, but it's not a panic-driven move.

From an analyst's perspective, the crypto market's reaction to geopolitical risks is relatively restrained, and hedging demand is limited. Such a calm market environment is actually considered a good sign for price volatility historically. There’s also a possibility that this implied volatility could decrease over the next few weeks, which might create more trading opportunities. By the way, BTC has increased by +2.77% in the last 24 hours.