Crypto Daybook Americas will not be published on Monday due to the Labor Day holiday. It will return on Tuesday.

By Omkar Godbole (All times ET unless indicated otherwise)

Bitcoin (BTC) has dropped nearly 3% to $109,800 in the past 24 hours, pulling the broader market, including ether (ETH), down with it. But those losses are nothing out of the ordinary, meaning major tokens are trading near recent valuations.

What's new today is that BTC's volatility is bouncing from recent multiyear lows (See Chart of the Day). The 30-day implied volatility, as represented by Volmex's BVIV and Deribit's DVOL indices, has surged above the 100-day simple moving average for the first time since mid-June. Perhaps the price turbulence that some traders predicted for August may unfold in September.

The inc

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