Bitcoin (BTC) has shown decent momentum to end the week, pushing its price back over $3,700 to around $3,750, before settling in around $3,725.

While Bitcoin has been relatively quiet since the beginning of the year, a recent report suggests futures trading volatility has steadily been on the rise.

“So, the New Year is underway and volatility appears to be percolating, which is off-putting to most passive investors,” wrote Cboe senior instructor Kevin Davitt. “However, there are many market participants that understand volatility is a constant, and if volume numbers at Cboe are any indication, they are actively embracing the tools available to trade volatility and/or manage risk.”

While Davitt is adamant that volatility is on the rise, the LedgerX Volatility Index (LXVX), a Bitcoin price volatility index designed to mimic Cboe’s own volatility index (VIX), has shown a steady decrease over the past two weeks.

LedgerX is leveraging its own U.S. federally-regulated bitcoin options data, which is USD-denominated and physically settled in BTC, providing a reliable estimate for expected BTC/USD price volatility. This could ultimately be the reasoning behind the discrepancy with the current Cboe trend that Davitt highlighted.

Bitcoin’s current price gives the largest digital currency a $65 billion market cap, representing a 52.5% total market dominance.

Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.