According to @Andre_Dragosch, the crypto implied volatility index DVOL spiked to almost 65, its highest level since the March 2025 tariff shock, indicating a massive jump in uncertainty and what he characterizes as max fear. Source: @Andre_Dragosch (X, Oct 11, 2025). A DVOL reading near 65 means the market is pricing materially larger 30-day moves and richer option premiums, raising hedging costs and volatility risk for crypto derivatives traders. Source: Deribit (DVOL index methodology).