{"id":337376,"date":"2025-06-18T18:19:00","date_gmt":"2025-06-18T10:19:00","guid":{"rendered":"https:\/\/pingtungtimes.com.tw\/?p=337376"},"modified":"2025-06-18T18:19:00","modified_gmt":"2025-06-18T10:19:00","slug":"bybit%e8%88%87block-scholes%e8%81%af%e5%90%88%e5%a0%b1%e5%91%8a%ef%bc%9a%e4%bb%a5%e5%a4%aa%e5%9d%8a%e5%a5%ae%e8%b5%b7%e7%9b%b4%e8%bf%bd%ef%bc%8ceth-btc%e6%b3%a2%e5%8b%95%e7%8e%87%e8%a7%b8%e5%8f%8a","status":"publish","type":"post","link":"https:\/\/pingtungtimes.com.tw\/?p=337376","title":{"rendered":"Bybit\u8207Block Scholes\u806f\u5408\u5831\u544a\uff1a\u4ee5\u592a\u574a\u596e\u8d77\u76f4\u8ffd\uff0cETH-BTC\u6ce2\u52d5\u7387\u89f8\u53ca\u4e94\u5e74\u65b0\u9ad8"},"content":{"rendered":"<div>\n<table name=\"logo_release\" border=\"0\" cellspacing=\"10\" cellpadding=\"5\" align=\"right\">\n<tbody>\n<tr>\n<td> <\/a> <br \/><span>Figure 1. BTC (green) and ETH (pink) at-the-money options\u2019 implied volatility at the 30-day tenor. Source: Block Scholes<\/span><\/p>\n<\/p><\/div>\n<p>2025\u5e745\u6708\uff0cETH\u8207BTC\u671f\u6b0a\u4e4b\u9593\u51fa\u73fe\u4e86\u986f\u8457\u7684\u96b1\u542b\u6ce2\u52d5\u7387\u932f\u4f4d\u3002\u96b1\u542b\u6ce2\u52d5\u7387\u53cd\u6620\u4e86\u5e02\u5834\u5c0d\u672a\u4f86\u671f\u6b0a\u6709\u6548\u671f\u5167\u50f9\u683c\u6ce2\u52d5\u7684\u9810\u671f\u3002\u6708\u521d\uff0c7\u5929\u671f\u671f\u6b0a\u7684ETH-BTC\u96b1\u542b\u6ce2\u52d5\u7387\u6bd4\u7387\u5f98\u5f8a\u57281.5\u5de6\u53f3\uff0c\u8868\u660eETH\u671f\u6b0a\u7684\u5b9a\u50f9\u96b1\u542b\u6ce2\u52d5\u7387\u9810\u671f\u6bd4BTC\u671f\u6b0a\u9ad8\u51fa50%\u3002<\/p>\n<p>\u81f35\u670816\u65e5\uff0c\u96a8\u8457BTC\u96b1\u542b\u6ce2\u52d5\u7387\u8dcc\u81f32023\u5e7410\u6708\u4ee5\u4f86\u7684\u6700\u4f4e\u6c34\u5e73\uff0c\u8a72\u6bd4\u7387\u6500\u5347\u81f32\u500d\u4ee5\u4e0a\uff0c\u9054\u5230\u81ea2020\u5e74\u4ee5\u4f86\u672a\u898b\u7684\u5cf0\u503c\u3002BTC\u6ce2\u52d5\u7387\u7684\u4e0b\u8dcc\uff0c\u6253\u7834\u4e86\u7dad\u6301\u8d85\u904e19\u500b\u6708\u768435%\u652f\u6490\u4f4d\uff1b\u800cETH\u7684\u77ed\u671f\u96b1\u542b\u6ce2\u52d5\u7387\u96d6\u7565\u4f4e\u65bc5\u670810\u65e5\u9ad8\u9ede\uff0c\u4f46\u4ecd\u4fdd\u6301\u9ad8\u4f4d\u3002\u9019\u7a2e\u6ce2\u52d5\u7387\u5dee\u7570\u572830\u5929\u671f\u9650\u7d50\u69cb\u4e2d\u5c24\u70ba\u660e\u986f\uff0c\u9054\u5230\u4e86\u81ea2022\u5e74\u5e74\u4e2d\u4ee5\u4f86\u7684\u6700\u95ca\u6c34\u5e73\u3002<\/p>\n<p> <b>\u5be6\u969b\u6ce2\u52d5\u7387\u8da8\u52e2\u5f37\u5316\u5206\u5316<\/b> <\/p>\n<p>\u96b1\u542b\u6ce2\u52d5\u7387\u7684\u6025\u5287\u5206\u5316\u5f97\u5230\u4e86\u5be6\u969b\u6ce2\u52d5\u7387\uff08\u8861\u91cf\u5be6\u969b\u6b77\u53f2\u50f9\u683c\u6ce2\u52d5\u7684\u6307\u6a19\uff09\u8da8\u52e2\u7684\u5370\u8b49\u30025\u6708\u4efd\uff0cETH\u7684\u5be6\u969b\u6ce2\u52d5\u7387\u5728\u5404\u671f\u9650\u4e0a\u5747\u986f\u8457\u8d85\u904eBTC\uff0c\u52a0\u5287\u4e86\u5e02\u5834\u5c0d\u9019\u5169\u7a2e\u8cc7\u7522\u5c07\u6301\u7e8c\u5206\u5316\u7684\u9810\u671f\u3002<\/p>\n<p>5\u670815\u65e5\uff0cETH\u8207BTC\u76847\u5929\u5be6\u969b\u6ce2\u52d5\u7387\u6bd4\u7387\u9054\u5230\u5cf0\u503c\uff0c\u96b1\u542b\u6ce2\u52d5\u7387\u6bd4\u7387\u7dca\u96a8\u5176\u5f8c\uff0c\u9019\u8868\u660e\u5e02\u5834\u53c3\u8207\u8005\u9810\u671fETH\u8f03\u9ad8\u7684\u6ce2\u52d5\u7387\u5c07\u6301\u7e8c\u4e0b\u53bb\u3002\u9019\u4e00\u8da8\u52e2\u4e26\u975e\u65b0\u73fe\u8c61\uff1a\u81ea2024\u5e747\u6708\u4ee5\u4f86\uff0c\u7121\u8ad6\u662f\u5728\u725b\u5e02\u9084\u662f\u5e02\u5834\u627f\u58d3\u6642\u671f\uff0cETH-BTC\u6ce2\u52d5\u7387\u6bd4\u7387\u4e00\u76f4\u7a69\u6b65\u6500\u5347\u3002<\/p>\n<p>ETH\u57285\u6708\u4efd\u7684\u7a81\u51fa\u8868\u73fe\u7531\u591a\u91cd\u56e0\u7d20\u5171\u540c\u63a8\u52d5\uff0c\u5305\u62ec\u5229\u597d\u7684\u82f1\u7f8e\u8cbf\u6613\u6d88\u606f\u3002\u50c55\u67088\u65e5\u7576\u5929\uff0cETH\u5c31\u98c6\u5347\u903e23%\uff0c\u4e26\u5728\u540c\u671f\u8868\u73fe\u6301\u7e8c\u512a\u65bc\u6f32\u5e45\u7d0410%\u7684BTC\u3002\u5118\u7ba1\u52e2\u982d\u5f37\u52c1\uff0c\u4f46ETH\u50f9\u683c\u4ecd\u8f03\u51762025\u5e741\u6708\u7684\u5cf0\u503c\u53ca\u6b77\u53f2\u9ad8\u9ede\u4f4e\u903e50%\u3002<\/p>\n<p>#Bybit \/ #TheCryptoArk \/ #BybitReport<\/p>\n<p> <b>\u95dc\u65bc<\/b> <b>Bybit<\/b> <\/p>\n<p>Bybit\u6210\u7acb\u65bc2018\u5e74\uff0c\u662f\u5168\u7403\u4ea4\u6613\u91cf\u7b2c\u4e8c\u5927\u52a0\u5bc6\u8ca8\u5e63\u4ea4\u6613\u6240\uff0c\u670d\u52d9\u8d85\u904e7000\u842c\u5168\u7403\u7528\u6236\u3002Bybit\u81f4\u529b\u65bc\u70ba\u6bcf\u500b\u4eba\u6253\u9020\u4e00\u500b\u66f4\u7c21\u55ae\u3001\u958b\u653e\u548c\u5e73\u7b49\u7684\u751f\u614b\u7cfb\u7d71\uff0c\u5f9e\u800c\u5728\u53bb\u4e2d\u5fc3\u5316\u7684\u4e16\u754c\u4e2d\u91cd\u65b0\u5b9a\u7fa9\u958b\u653e\u6027\u3002Bybit\u6df1\u8015Web3\u9818\u57df\uff0c\u8207\u9818\u5148\u7684\u5340\u584a\u93c8\u5354\u8b70\u9032\u884c\u6230\u7565\u5408\u4f5c\uff0c\u63d0\u4f9b\u5805\u5be6\u7684\u57fa\u790e\u8a2d\u65bd\u4e26\u63a8\u52d5\u93c8\u4e0a\u5275\u65b0\u3002Bybit\u6191\u501f\u5b89\u5168\u7684\u6258\u7ba1\u670d\u52d9\u3001\u591a\u5143\u5316\u7684\u5e02\u5834\u3001\u76f4\u89c0\u7684\u7528\u6236\u9ad4\u9a57\u548c\u5148\u9032\u7684\u5340\u584a\u93c8\u5de5\u5177\u800c\u805e\u540d\uff0c\u642d\u5efa\u4e86\u50b3\u7d71\u91d1\u878d(TradFi)\u8207\u53bb\u4e2d\u5fc3\u5316\u91d1\u878d(DeFi)\u4e4b\u9593\u7684\u6a4b\u6a11\uff0c\u8ce6\u80fd\u5efa\u8a2d\u8005\u3001\u5275\u9020\u8005\u548c\u611b\u597d\u8005\u5145\u5206\u6316\u6398Web3\u7684\u5168\u90e8\u6f5b\u529b\u3002\u63a2\u7d22\u53bb\u4e2d\u5fc3\u5316\u91d1\u878d\u7684\u672a\u4f86\uff0c\u8acb\u8a2a\u554f<u><a href=\"http:\/\/bybit.com\/\" target=\"_blank\" rel=\"nofollow noopener\" style=\"color: #0000FF\">Bybit.com<\/a><\/u>\u3002<\/p>\n<p>\u5982\u9700\u77ad\u89e3Bybit\u66f4\u591a\u8a73\u60c5\uff0c\u8acb\u8a2a\u554f<u><a href=\"https:\/\/www.bybit.com\/en\/press\" target=\"_blank\" rel=\"nofollow noopener\" style=\"color: #0000FF\">Bybit Press<\/a><\/u><br \/>\u5a92\u9ad4\u5782\u8a62\uff0c\u8acb\u806f\u7e6b\uff1a<u><a href=\"mailto:media@bybit.com\" target=\"_blank\" rel=\"nofollow noopener\" style=\"color: #0000FF\">media@bybit.com<\/a><\/u><br \/>\u5982\u9700\u77ad\u89e3\u6700\u65b0\u4fe1\u606f\uff0c\u8acb\u95dc\u6ce8<a href=\"https:\/\/www.bybit.com\/en-us\/promo\/global\/communities\/\" target=\"_blank\" rel=\"nofollow noopener\" style=\"color: #0000FF\">Bybit\u793e\u7fa4\u548c\u793e\u4ea4\u5a92\u9ad4<\/a><\/p>\n<p> <u> <a href=\"https:\/\/discord.gg\/bybit\" target=\"_blank\" rel=\"nofollow noopener\" style=\"color: #0000FF\">Discord<\/a> <\/u>\u00a0\u00a0|\u00a0<u><a href=\"https:\/\/www.facebook.com\/Bybit\/\" target=\"_blank\" rel=\"nofollow noopener\" style=\"color: #0000FF\">Facebook<\/a><\/u>\u00a0|\u00a0<u><a href=\"https:\/\/www.instagram.com\/bybit_official\/?hl=en\" target=\"_blank\" rel=\"nofollow noopener\" style=\"color: #0000FF\">Instagram<\/a><\/u>\u00a0|\u00a0<u><a href=\"https:\/\/www.linkedin.com\/company\/bybitexchange\/\" target=\"_blank\" rel=\"nofollow noopener\" style=\"color: #0000FF\">LinkedIn<\/a><\/u>\u00a0|\u00a0<u><a href=\"https:\/\/www.reddit.com\/r\/Bybit\/\" target=\"_blank\" rel=\"nofollow noopener\" style=\"color: #0000FF\">Reddit<\/a><\/u>\u00a0|\u00a0<u><a href=\"https:\/\/t.me\/s\/Bybit_Announcements\" target=\"_blank\" rel=\"nofollow noopener\" style=\"color: #0000FF\">Telegram<\/a><\/u>\u00a0|\u00a0<u><a href=\"https:\/\/www.tiktok.com\/@bybit_official?lang=en\" target=\"_blank\" rel=\"nofollow noopener\" style=\"color: #0000FF\">TikTok<\/a><\/u>\u00a0|\u00a0<u><a href=\"https:\/\/twitter.com\/Bybit_Official\" target=\"_blank\" rel=\"nofollow noopener\" style=\"color: #0000FF\">X<\/a><\/u>\u00a0|\u00a0<u><a href=\"https:\/\/www.youtube.com\/c\/bybit\" target=\"_blank\" rel=\"nofollow noopener\" style=\"color: #0000FF\">Youtube<\/a><\/u><\/p>\n<p>\u00a0<\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder0\">\n<\/p><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Figure 1. BTC (&#8230;<\/p>\n","protected":false},"author":16,"featured_media":337377,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[40567],"tags":[],"class_list":["post-337376","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-40567"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Bybit\u8207Block Scholes\u806f\u5408\u5831\u544a\uff1a\u4ee5\u592a\u574a\u596e\u8d77\u76f4\u8ffd\uff0cETH-BTC\u6ce2\u52d5\u7387\u89f8\u53ca\u4e94\u5e74\u65b0\u9ad8 - \u5c4f\u6771\u6642\u5831\u96fb\u5b50\u5831<\/title>\n<meta name=\"description\" content=\"Figure 1. BTC (green) and ETH (pink) at-the-money options\u2019 implied volatility at the 30-day tenor. Source: Block Scholes  2025\u5e745\u6708\uff0cETH\u8207BTC\u671f\u6b0a\u4e4b\u9593\u51fa\u73fe\u4e86\u986f\u8457\u7684\u96b1\u542b\u6ce2\u52d5\u7387\u932f\u4f4d\u3002\u96b1\u542b\u6ce2\u52d5\u7387\u53cd\u6620\u4e86\u5e02\u5834\u5c0d\u672a\u4f86\u671f\u6b0a\u6709\u6548\u671f\u5167\u50f9\u683c\u6ce2\u52d5\u7684\u9810\u671f\u3002\u6708\u521d\uff0c7\u5929\u671f\u671f\u6b0a\u7684ETH-BTC\u96b1\u542b\u6ce2\u52d5\u7387\u6bd4\u7387\u5f98\u5f8a\u57281.5\u5de6\u53f3\uff0c\u8868\u660eETH\u671f\u6b0a\u7684\u5b9a\u50f9\u96b1\u542b\u6ce2\u52d5\u7387\u9810\u671f\u6bd4BTC\u671f\u6b0a\u9ad8\u51fa50%\u3002 \u81f35\u670816\u65e5\uff0c\u96a8\u8457BTC\u96b1\u542b\u6ce2\u52d5\u7387\u8dcc\u81f32023\u5e7410\u6708\u4ee5\u4f86\u7684\u6700\u4f4e\u6c34\u5e73\uff0c\u8a72\u6bd4\u7387\u6500\u5347\u81f32\u500d\u4ee5\u4e0a\uff0c\u9054\u5230\u81ea2020\u5e74\u4ee5\u4f86\u672a\u898b\u7684\u5cf0\u503c\u3002BTC\u6ce2\u52d5\u7387\u7684\u4e0b\u8dcc\uff0c\u6253\u7834\u4e86\u7dad\u6301\u8d85\u904e19\u500b\u6708\u768435%\u652f\u6490\u4f4d\uff1b\u800cETH\u7684\u77ed\u671f\u96b1\u542b\u6ce2\u52d5\u7387\u96d6\u7565\u4f4e\u65bc5\u670810\u65e5\u9ad8\u9ede\uff0c\u4f46\u4ecd\u4fdd\u6301\u9ad8\u4f4d\u3002\u9019\u7a2e\u6ce2\u52d5\u7387\u5dee\u7570\u572830\u5929\u671f\u9650\u7d50\u69cb\u4e2d\u5c24\u70ba\u660e\u986f\uff0c\u9054\u5230\u4e86\u81ea2022\u5e74\u5e74\u4e2d\u4ee5\u4f86\u7684\u6700\u95ca\u6c34\u5e73\u3002  \u5be6\u969b\u6ce2\u52d5\u7387\u8da8\u52e2\u5f37\u5316\u5206\u5316  \u96b1\u542b\u6ce2\u52d5\u7387\u7684\u6025\u5287\u5206\u5316\u5f97\u5230\u4e86\u5be6\u969b\u6ce2\u52d5\u7387\uff08\u8861\u91cf\u5be6\u969b\u6b77\u53f2\u50f9\u683c\u6ce2\u52d5\u7684\u6307\u6a19\uff09\u8da8\u52e2\u7684\u5370\u8b49\u30025\u6708\u4efd\uff0cETH\u7684\u5be6\u969b\u6ce2\u52d5\u7387\u5728\u5404\u671f\u9650\u4e0a\u5747\u986f\u8457\u8d85\u904eBTC\uff0c\u52a0\u5287\u4e86\u5e02\u5834\u5c0d\u9019\u5169\u7a2e\u8cc7\u7522\u5c07\u6301\u7e8c\u5206\u5316\u7684\u9810\u671f\u3002 5\u670815\u65e5\uff0cETH\u8207BTC\u76847\u5929\u5be6\u969b\u6ce2\u52d5\u7387\u6bd4\u7387\u9054\u5230\u5cf0\u503c\uff0c\u96b1\u542b\u6ce2\u52d5\u7387\u6bd4\u7387\u7dca\u96a8\u5176\u5f8c\uff0c\u9019\u8868\u660e\u5e02\u5834\u53c3\u8207\u8005\u9810\u671fETH\u8f03\u9ad8\u7684\u6ce2\u52d5\u7387\u5c07\u6301\u7e8c\u4e0b\u53bb\u3002\u9019\u4e00\u8da8\u52e2\u4e26\u975e\u65b0\u73fe\u8c61\uff1a\u81ea2024\u5e747\u6708\u4ee5\u4f86\uff0c\u7121\u8ad6\u662f\u5728\u725b\u5e02\u9084\u662f\u5e02\u5834\u627f\u58d3\u6642\u671f\uff0cETH-BTC\u6ce2\u52d5\u7387\u6bd4\u7387\u4e00\u76f4\u7a69\u6b65\u6500\u5347\u3002 ETH\u57285\u6708\u4efd\u7684\u7a81\u51fa\u8868\u73fe\u7531\u591a\u91cd\u56e0\u7d20\u5171\u540c\u63a8\u52d5\uff0c\u5305\u62ec\u5229\u597d\u7684\u82f1\u7f8e\u8cbf\u6613\u6d88\u606f\u3002\u50c55\u67088\u65e5\u7576\u5929\uff0cETH\u5c31\u98c6\u5347\u903e23%\uff0c\u4e26\u5728\u540c\u671f\u8868\u73fe\u6301\u7e8c\u512a\u65bc\u6f32\u5e45\u7d0410%\u7684BTC\u3002\u5118\u7ba1\u52e2\u982d\u5f37\u52c1\uff0c\u4f46ETH\u50f9\u683c\u4ecd\u8f03\u51762025\u5e741\u6708\u7684\u5cf0\u503c\u53ca\u6b77\u53f2\u9ad8\u9ede\u4f4e\u903e50%\u3002 #Bybit \/ #TheCryptoArk \/ #BybitReport  \u95dc\u65bc Bybit  Bybit\u6210\u7acb\u65bc2018\u5e74\uff0c\u662f\u5168\u7403\u4ea4\u6613\u91cf\u7b2c\u4e8c\u5927\u52a0\u5bc6\u8ca8\u5e63\u4ea4\u6613\u6240\uff0c\u670d\u52d9\u8d85\u904e7000\u842c\u5168\u7403\u7528\u6236\u3002Bybit\u81f4\u529b\u65bc\u70ba\u6bcf\u500b\u4eba\u6253\u9020\u4e00\u500b\u66f4\u7c21\u55ae\u3001\u958b\u653e\u548c\u5e73\u7b49\u7684\u751f\u614b\u7cfb\u7d71\uff0c\u5f9e\u800c\u5728\u53bb\u4e2d\u5fc3\u5316\u7684\u4e16\u754c\u4e2d\u91cd\u65b0\u5b9a\u7fa9\u958b\u653e\u6027\u3002Bybit\u6df1\u8015Web3\u9818\u57df\uff0c\u8207\u9818\u5148\u7684\u5340\u584a\u93c8\u5354\u8b70\u9032\u884c\u6230\u7565\u5408\u4f5c\uff0c\u63d0\u4f9b\u5805\u5be6\u7684\u57fa\u790e\u8a2d\u65bd\u4e26\u63a8\u52d5\u93c8\u4e0a\u5275\u65b0\u3002Bybit\u6191\u501f\u5b89\u5168\u7684\u6258\u7ba1\u670d\u52d9\u3001\u591a\u5143\u5316\u7684\u5e02\u5834\u3001\u76f4\u89c0\u7684\u7528\u6236\u9ad4\u9a57\u548c\u5148\u9032\u7684\u5340\u584a\u93c8\u5de5\u5177\u800c\u805e\u540d\uff0c\u642d\u5efa\u4e86\u50b3\u7d71\u91d1\u878d(TradFi)\u8207\u53bb\u4e2d\u5fc3\u5316\u91d1\u878d(DeFi)\u4e4b\u9593\u7684\u6a4b\u6a11\uff0c\u8ce6\u80fd\u5efa\u8a2d\u8005\u3001\u5275\u9020\u8005\u548c\u611b\u597d\u8005\u5145\u5206\u6316\u6398Web3\u7684\u5168\u90e8\u6f5b\u529b\u3002\u63a2\u7d22\u53bb\u4e2d\u5fc3\u5316\u91d1\u878d\u7684\u672a\u4f86\uff0c\u8acb\u8a2a\u554fBybit.com\u3002 \u5982\u9700\u77ad\u89e3Bybit\u66f4\u591a\u8a73\u60c5\uff0c\u8acb\u8a2a\u554fBybit Press\u5a92\u9ad4\u5782\u8a62\uff0c\u8acb\u806f\u7e6b\uff1amedia@bybit.com\u5982\u9700\u77ad\u89e3\u6700\u65b0\u4fe1\u606f\uff0c\u8acb\u95dc\u6ce8Bybit\u793e\u7fa4\u548c\u793e\u4ea4\u5a92\u9ad4  Discord \u00a0\u00a0|\u00a0Facebook\u00a0|\u00a0Instagram\u00a0|\u00a0LinkedIn\u00a0|\u00a0Reddit\u00a0|\u00a0Telegram\u00a0|\u00a0TikTok\u00a0|\u00a0X\u00a0|\u00a0Youtube \u00a0\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pingtungtimes.com.tw\/?p=337376\" \/>\n<meta property=\"og:locale\" content=\"zh_TW\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bybit\u8207Block Scholes\u806f\u5408\u5831\u544a\uff1a\u4ee5\u592a\u574a\u596e\u8d77\u76f4\u8ffd\uff0cETH-BTC\u6ce2\u52d5\u7387\u89f8\u53ca\u4e94\u5e74\u65b0\u9ad8 - \u5c4f\u6771\u6642\u5831\u96fb\u5b50\u5831\" \/>\n<meta property=\"og:description\" content=\"Figure 1. BTC (green) and ETH (pink) at-the-money options\u2019 implied volatility at the 30-day tenor. Source: Block Scholes  2025\u5e745\u6708\uff0cETH\u8207BTC\u671f\u6b0a\u4e4b\u9593\u51fa\u73fe\u4e86\u986f\u8457\u7684\u96b1\u542b\u6ce2\u52d5\u7387\u932f\u4f4d\u3002\u96b1\u542b\u6ce2\u52d5\u7387\u53cd\u6620\u4e86\u5e02\u5834\u5c0d\u672a\u4f86\u671f\u6b0a\u6709\u6548\u671f\u5167\u50f9\u683c\u6ce2\u52d5\u7684\u9810\u671f\u3002\u6708\u521d\uff0c7\u5929\u671f\u671f\u6b0a\u7684ETH-BTC\u96b1\u542b\u6ce2\u52d5\u7387\u6bd4\u7387\u5f98\u5f8a\u57281.5\u5de6\u53f3\uff0c\u8868\u660eETH\u671f\u6b0a\u7684\u5b9a\u50f9\u96b1\u542b\u6ce2\u52d5\u7387\u9810\u671f\u6bd4BTC\u671f\u6b0a\u9ad8\u51fa50%\u3002 \u81f35\u670816\u65e5\uff0c\u96a8\u8457BTC\u96b1\u542b\u6ce2\u52d5\u7387\u8dcc\u81f32023\u5e7410\u6708\u4ee5\u4f86\u7684\u6700\u4f4e\u6c34\u5e73\uff0c\u8a72\u6bd4\u7387\u6500\u5347\u81f32\u500d\u4ee5\u4e0a\uff0c\u9054\u5230\u81ea2020\u5e74\u4ee5\u4f86\u672a\u898b\u7684\u5cf0\u503c\u3002BTC\u6ce2\u52d5\u7387\u7684\u4e0b\u8dcc\uff0c\u6253\u7834\u4e86\u7dad\u6301\u8d85\u904e19\u500b\u6708\u768435%\u652f\u6490\u4f4d\uff1b\u800cETH\u7684\u77ed\u671f\u96b1\u542b\u6ce2\u52d5\u7387\u96d6\u7565\u4f4e\u65bc5\u670810\u65e5\u9ad8\u9ede\uff0c\u4f46\u4ecd\u4fdd\u6301\u9ad8\u4f4d\u3002\u9019\u7a2e\u6ce2\u52d5\u7387\u5dee\u7570\u572830\u5929\u671f\u9650\u7d50\u69cb\u4e2d\u5c24\u70ba\u660e\u986f\uff0c\u9054\u5230\u4e86\u81ea2022\u5e74\u5e74\u4e2d\u4ee5\u4f86\u7684\u6700\u95ca\u6c34\u5e73\u3002  \u5be6\u969b\u6ce2\u52d5\u7387\u8da8\u52e2\u5f37\u5316\u5206\u5316  \u96b1\u542b\u6ce2\u52d5\u7387\u7684\u6025\u5287\u5206\u5316\u5f97\u5230\u4e86\u5be6\u969b\u6ce2\u52d5\u7387\uff08\u8861\u91cf\u5be6\u969b\u6b77\u53f2\u50f9\u683c\u6ce2\u52d5\u7684\u6307\u6a19\uff09\u8da8\u52e2\u7684\u5370\u8b49\u30025\u6708\u4efd\uff0cETH\u7684\u5be6\u969b\u6ce2\u52d5\u7387\u5728\u5404\u671f\u9650\u4e0a\u5747\u986f\u8457\u8d85\u904eBTC\uff0c\u52a0\u5287\u4e86\u5e02\u5834\u5c0d\u9019\u5169\u7a2e\u8cc7\u7522\u5c07\u6301\u7e8c\u5206\u5316\u7684\u9810\u671f\u3002 5\u670815\u65e5\uff0cETH\u8207BTC\u76847\u5929\u5be6\u969b\u6ce2\u52d5\u7387\u6bd4\u7387\u9054\u5230\u5cf0\u503c\uff0c\u96b1\u542b\u6ce2\u52d5\u7387\u6bd4\u7387\u7dca\u96a8\u5176\u5f8c\uff0c\u9019\u8868\u660e\u5e02\u5834\u53c3\u8207\u8005\u9810\u671fETH\u8f03\u9ad8\u7684\u6ce2\u52d5\u7387\u5c07\u6301\u7e8c\u4e0b\u53bb\u3002\u9019\u4e00\u8da8\u52e2\u4e26\u975e\u65b0\u73fe\u8c61\uff1a\u81ea2024\u5e747\u6708\u4ee5\u4f86\uff0c\u7121\u8ad6\u662f\u5728\u725b\u5e02\u9084\u662f\u5e02\u5834\u627f\u58d3\u6642\u671f\uff0cETH-BTC\u6ce2\u52d5\u7387\u6bd4\u7387\u4e00\u76f4\u7a69\u6b65\u6500\u5347\u3002 ETH\u57285\u6708\u4efd\u7684\u7a81\u51fa\u8868\u73fe\u7531\u591a\u91cd\u56e0\u7d20\u5171\u540c\u63a8\u52d5\uff0c\u5305\u62ec\u5229\u597d\u7684\u82f1\u7f8e\u8cbf\u6613\u6d88\u606f\u3002\u50c55\u67088\u65e5\u7576\u5929\uff0cETH\u5c31\u98c6\u5347\u903e23%\uff0c\u4e26\u5728\u540c\u671f\u8868\u73fe\u6301\u7e8c\u512a\u65bc\u6f32\u5e45\u7d0410%\u7684BTC\u3002\u5118\u7ba1\u52e2\u982d\u5f37\u52c1\uff0c\u4f46ETH\u50f9\u683c\u4ecd\u8f03\u51762025\u5e741\u6708\u7684\u5cf0\u503c\u53ca\u6b77\u53f2\u9ad8\u9ede\u4f4e\u903e50%\u3002 #Bybit \/ #TheCryptoArk \/ #BybitReport  \u95dc\u65bc Bybit  Bybit\u6210\u7acb\u65bc2018\u5e74\uff0c\u662f\u5168\u7403\u4ea4\u6613\u91cf\u7b2c\u4e8c\u5927\u52a0\u5bc6\u8ca8\u5e63\u4ea4\u6613\u6240\uff0c\u670d\u52d9\u8d85\u904e7000\u842c\u5168\u7403\u7528\u6236\u3002Bybit\u81f4\u529b\u65bc\u70ba\u6bcf\u500b\u4eba\u6253\u9020\u4e00\u500b\u66f4\u7c21\u55ae\u3001\u958b\u653e\u548c\u5e73\u7b49\u7684\u751f\u614b\u7cfb\u7d71\uff0c\u5f9e\u800c\u5728\u53bb\u4e2d\u5fc3\u5316\u7684\u4e16\u754c\u4e2d\u91cd\u65b0\u5b9a\u7fa9\u958b\u653e\u6027\u3002Bybit\u6df1\u8015Web3\u9818\u57df\uff0c\u8207\u9818\u5148\u7684\u5340\u584a\u93c8\u5354\u8b70\u9032\u884c\u6230\u7565\u5408\u4f5c\uff0c\u63d0\u4f9b\u5805\u5be6\u7684\u57fa\u790e\u8a2d\u65bd\u4e26\u63a8\u52d5\u93c8\u4e0a\u5275\u65b0\u3002Bybit\u6191\u501f\u5b89\u5168\u7684\u6258\u7ba1\u670d\u52d9\u3001\u591a\u5143\u5316\u7684\u5e02\u5834\u3001\u76f4\u89c0\u7684\u7528\u6236\u9ad4\u9a57\u548c\u5148\u9032\u7684\u5340\u584a\u93c8\u5de5\u5177\u800c\u805e\u540d\uff0c\u642d\u5efa\u4e86\u50b3\u7d71\u91d1\u878d(TradFi)\u8207\u53bb\u4e2d\u5fc3\u5316\u91d1\u878d(DeFi)\u4e4b\u9593\u7684\u6a4b\u6a11\uff0c\u8ce6\u80fd\u5efa\u8a2d\u8005\u3001\u5275\u9020\u8005\u548c\u611b\u597d\u8005\u5145\u5206\u6316\u6398Web3\u7684\u5168\u90e8\u6f5b\u529b\u3002\u63a2\u7d22\u53bb\u4e2d\u5fc3\u5316\u91d1\u878d\u7684\u672a\u4f86\uff0c\u8acb\u8a2a\u554fBybit.com\u3002 \u5982\u9700\u77ad\u89e3Bybit\u66f4\u591a\u8a73\u60c5\uff0c\u8acb\u8a2a\u554fBybit Press\u5a92\u9ad4\u5782\u8a62\uff0c\u8acb\u806f\u7e6b\uff1amedia@bybit.com\u5982\u9700\u77ad\u89e3\u6700\u65b0\u4fe1\u606f\uff0c\u8acb\u95dc\u6ce8Bybit\u793e\u7fa4\u548c\u793e\u4ea4\u5a92\u9ad4  Discord \u00a0\u00a0|\u00a0Facebook\u00a0|\u00a0Instagram\u00a0|\u00a0LinkedIn\u00a0|\u00a0Reddit\u00a0|\u00a0Telegram\u00a0|\u00a0TikTok\u00a0|\u00a0X\u00a0|\u00a0Youtube \u00a0\" \/>\n<meta property=\"og:url\" content=\"https:\/\/pingtungtimes.com.tw\/?p=337376\" \/>\n<meta property=\"og:site_name\" content=\"\u5c4f\u6771\u6642\u5831\u96fb\u5b50\u5831\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/pingtungnews\" \/>\n<meta property=\"article:published_time\" content=\"2025-06-18T10:19:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/pingtungtimes.com.tw\/wp-content\/uploads\/2023\/02\/logo-150.png\" \/>\n\t<meta property=\"og:image:width\" content=\"3000\" \/>\n\t<meta property=\"og:image:height\" content=\"1990\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"\u7f8e\u901a\u793e\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"\u4f5c\u8005:\" \/>\n\t<meta name=\"twitter:data1\" content=\"\u7f8e\u901a\u793e\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\\\/\\\/pingtungtimes.com.tw\\\/?p=337376#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/pingtungtimes.com.tw\\\/?p=337376\"},\"author\":{\"name\":\"\u7f8e\u901a\u793e\",\"@id\":\"https:\\\/\\\/pingtungtimes.com.tw\\\/#\\\/schema\\\/person\\\/683b937f29ec1537972f6c41e22a2cf3\"},\"headline\":\"Bybit\u8207Block Scholes\u806f\u5408\u5831\u544a\uff1a\u4ee5\u592a\u574a\u596e\u8d77\u76f4\u8ffd\uff0cETH-BTC\u6ce2\u52d5\u7387\u89f8\u53ca\u4e94\u5e74\u65b0\u9ad8\",\"datePublished\":\"2025-06-18T10:19:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/pingtungtimes.com.tw\\\/?p=337376\"},\"wordCount\":69,\"publisher\":{\"@id\":\"https:\\\/\\\/pingtungtimes.com.tw\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/pingtungtimes.com.tw\\\/?p=337376#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/pingtungtimes.com.tw\\\/wp-content\\\/uploads\\\/1-387.jpg\",\"articleSection\":[\"\u7f8e\u901a\u793e\"],\"inLanguage\":\"zh-TW\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/pingtungtimes.com.tw\\\/?p=337376\",\"url\":\"https:\\\/\\\/pingtungtimes.com.tw\\\/?p=337376\",\"name\":\"Bybit\u8207Block Scholes\u806f\u5408\u5831\u544a\uff1a\u4ee5\u592a\u574a\u596e\u8d77\u76f4\u8ffd\uff0cETH-BTC\u6ce2\u52d5\u7387\u89f8\u53ca\u4e94\u5e74\u65b0\u9ad8 - \u5c4f\u6771\u6642\u5831\u96fb\u5b50\u5831\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/pingtungtimes.com.tw\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/pingtungtimes.com.tw\\\/?p=337376#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/pingtungtimes.com.tw\\\/?p=337376#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/pingtungtimes.com.tw\\\/wp-content\\\/uploads\\\/1-387.jpg\",\"datePublished\":\"2025-06-18T10:19:00+00:00\",\"description\":\"Figure 1. BTC (green) and ETH (pink) at-the-money options\u2019 implied volatility at the 30-day tenor. Source: Block Scholes 2025\u5e745\u6708\uff0cETH\u8207BTC\u671f\u6b0a\u4e4b\u9593\u51fa\u73fe\u4e86\u986f\u8457\u7684\u96b1\u542b\u6ce2\u52d5\u7387\u932f\u4f4d\u3002\u96b1\u542b\u6ce2\u52d5\u7387\u53cd\u6620\u4e86\u5e02\u5834\u5c0d\u672a\u4f86\u671f\u6b0a\u6709\u6548\u671f\u5167\u50f9\u683c\u6ce2\u52d5\u7684\u9810\u671f\u3002\u6708\u521d\uff0c7\u5929\u671f\u671f\u6b0a\u7684ETH-BTC\u96b1\u542b\u6ce2\u52d5\u7387\u6bd4\u7387\u5f98\u5f8a\u57281.5\u5de6\u53f3\uff0c\u8868\u660eETH\u671f\u6b0a\u7684\u5b9a\u50f9\u96b1\u542b\u6ce2\u52d5\u7387\u9810\u671f\u6bd4BTC\u671f\u6b0a\u9ad8\u51fa50%\u3002 \u81f35\u670816\u65e5\uff0c\u96a8\u8457BTC\u96b1\u542b\u6ce2\u52d5\u7387\u8dcc\u81f32023\u5e7410\u6708\u4ee5\u4f86\u7684\u6700\u4f4e\u6c34\u5e73\uff0c\u8a72\u6bd4\u7387\u6500\u5347\u81f32\u500d\u4ee5\u4e0a\uff0c\u9054\u5230\u81ea2020\u5e74\u4ee5\u4f86\u672a\u898b\u7684\u5cf0\u503c\u3002BTC\u6ce2\u52d5\u7387\u7684\u4e0b\u8dcc\uff0c\u6253\u7834\u4e86\u7dad\u6301\u8d85\u904e19\u500b\u6708\u768435%\u652f\u6490\u4f4d\uff1b\u800cETH\u7684\u77ed\u671f\u96b1\u542b\u6ce2\u52d5\u7387\u96d6\u7565\u4f4e\u65bc5\u670810\u65e5\u9ad8\u9ede\uff0c\u4f46\u4ecd\u4fdd\u6301\u9ad8\u4f4d\u3002\u9019\u7a2e\u6ce2\u52d5\u7387\u5dee\u7570\u572830\u5929\u671f\u9650\u7d50\u69cb\u4e2d\u5c24\u70ba\u660e\u986f\uff0c\u9054\u5230\u4e86\u81ea2022\u5e74\u5e74\u4e2d\u4ee5\u4f86\u7684\u6700\u95ca\u6c34\u5e73\u3002 \u5be6\u969b\u6ce2\u52d5\u7387\u8da8\u52e2\u5f37\u5316\u5206\u5316 \u96b1\u542b\u6ce2\u52d5\u7387\u7684\u6025\u5287\u5206\u5316\u5f97\u5230\u4e86\u5be6\u969b\u6ce2\u52d5\u7387\uff08\u8861\u91cf\u5be6\u969b\u6b77\u53f2\u50f9\u683c\u6ce2\u52d5\u7684\u6307\u6a19\uff09\u8da8\u52e2\u7684\u5370\u8b49\u30025\u6708\u4efd\uff0cETH\u7684\u5be6\u969b\u6ce2\u52d5\u7387\u5728\u5404\u671f\u9650\u4e0a\u5747\u986f\u8457\u8d85\u904eBTC\uff0c\u52a0\u5287\u4e86\u5e02\u5834\u5c0d\u9019\u5169\u7a2e\u8cc7\u7522\u5c07\u6301\u7e8c\u5206\u5316\u7684\u9810\u671f\u3002 5\u670815\u65e5\uff0cETH\u8207BTC\u76847\u5929\u5be6\u969b\u6ce2\u52d5\u7387\u6bd4\u7387\u9054\u5230\u5cf0\u503c\uff0c\u96b1\u542b\u6ce2\u52d5\u7387\u6bd4\u7387\u7dca\u96a8\u5176\u5f8c\uff0c\u9019\u8868\u660e\u5e02\u5834\u53c3\u8207\u8005\u9810\u671fETH\u8f03\u9ad8\u7684\u6ce2\u52d5\u7387\u5c07\u6301\u7e8c\u4e0b\u53bb\u3002\u9019\u4e00\u8da8\u52e2\u4e26\u975e\u65b0\u73fe\u8c61\uff1a\u81ea2024\u5e747\u6708\u4ee5\u4f86\uff0c\u7121\u8ad6\u662f\u5728\u725b\u5e02\u9084\u662f\u5e02\u5834\u627f\u58d3\u6642\u671f\uff0cETH-BTC\u6ce2\u52d5\u7387\u6bd4\u7387\u4e00\u76f4\u7a69\u6b65\u6500\u5347\u3002 ETH\u57285\u6708\u4efd\u7684\u7a81\u51fa\u8868\u73fe\u7531\u591a\u91cd\u56e0\u7d20\u5171\u540c\u63a8\u52d5\uff0c\u5305\u62ec\u5229\u597d\u7684\u82f1\u7f8e\u8cbf\u6613\u6d88\u606f\u3002\u50c55\u67088\u65e5\u7576\u5929\uff0cETH\u5c31\u98c6\u5347\u903e23%\uff0c\u4e26\u5728\u540c\u671f\u8868\u73fe\u6301\u7e8c\u512a\u65bc\u6f32\u5e45\u7d0410%\u7684BTC\u3002\u5118\u7ba1\u52e2\u982d\u5f37\u52c1\uff0c\u4f46ETH\u50f9\u683c\u4ecd\u8f03\u51762025\u5e741\u6708\u7684\u5cf0\u503c\u53ca\u6b77\u53f2\u9ad8\u9ede\u4f4e\u903e50%\u3002 #Bybit \\\/ #TheCryptoArk \\\/ #BybitReport \u95dc\u65bc Bybit Bybit\u6210\u7acb\u65bc2018\u5e74\uff0c\u662f\u5168\u7403\u4ea4\u6613\u91cf\u7b2c\u4e8c\u5927\u52a0\u5bc6\u8ca8\u5e63\u4ea4\u6613\u6240\uff0c\u670d\u52d9\u8d85\u904e7000\u842c\u5168\u7403\u7528\u6236\u3002Bybit\u81f4\u529b\u65bc\u70ba\u6bcf\u500b\u4eba\u6253\u9020\u4e00\u500b\u66f4\u7c21\u55ae\u3001\u958b\u653e\u548c\u5e73\u7b49\u7684\u751f\u614b\u7cfb\u7d71\uff0c\u5f9e\u800c\u5728\u53bb\u4e2d\u5fc3\u5316\u7684\u4e16\u754c\u4e2d\u91cd\u65b0\u5b9a\u7fa9\u958b\u653e\u6027\u3002Bybit\u6df1\u8015Web3\u9818\u57df\uff0c\u8207\u9818\u5148\u7684\u5340\u584a\u93c8\u5354\u8b70\u9032\u884c\u6230\u7565\u5408\u4f5c\uff0c\u63d0\u4f9b\u5805\u5be6\u7684\u57fa\u790e\u8a2d\u65bd\u4e26\u63a8\u52d5\u93c8\u4e0a\u5275\u65b0\u3002Bybit\u6191\u501f\u5b89\u5168\u7684\u6258\u7ba1\u670d\u52d9\u3001\u591a\u5143\u5316\u7684\u5e02\u5834\u3001\u76f4\u89c0\u7684\u7528\u6236\u9ad4\u9a57\u548c\u5148\u9032\u7684\u5340\u584a\u93c8\u5de5\u5177\u800c\u805e\u540d\uff0c\u642d\u5efa\u4e86\u50b3\u7d71\u91d1\u878d(TradFi)\u8207\u53bb\u4e2d\u5fc3\u5316\u91d1\u878d(DeFi)\u4e4b\u9593\u7684\u6a4b\u6a11\uff0c\u8ce6\u80fd\u5efa\u8a2d\u8005\u3001\u5275\u9020\u8005\u548c\u611b\u597d\u8005\u5145\u5206\u6316\u6398Web3\u7684\u5168\u90e8\u6f5b\u529b\u3002\u63a2\u7d22\u53bb\u4e2d\u5fc3\u5316\u91d1\u878d\u7684\u672a\u4f86\uff0c\u8acb\u8a2a\u554fBybit.com\u3002 \u5982\u9700\u77ad\u89e3Bybit\u66f4\u591a\u8a73\u60c5\uff0c\u8acb\u8a2a\u554fBybit Press\u5a92\u9ad4\u5782\u8a62\uff0c\u8acb\u806f\u7e6b\uff1amedia@bybit.com\u5982\u9700\u77ad\u89e3\u6700\u65b0\u4fe1\u606f\uff0c\u8acb\u95dc\u6ce8Bybit\u793e\u7fa4\u548c\u793e\u4ea4\u5a92\u9ad4 Discord \u00a0\u00a0|\u00a0Facebook\u00a0|\u00a0Instagram\u00a0|\u00a0LinkedIn\u00a0|\u00a0Reddit\u00a0|\u00a0Telegram\u00a0|\u00a0TikTok\u00a0|\u00a0X\u00a0|\u00a0Youtube \u00a0\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/pingtungtimes.com.tw\\\/?p=337376#breadcrumb\"},\"inLanguage\":\"zh-TW\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/pingtungtimes.com.tw\\\/?p=337376\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"zh-TW\",\"@id\":\"https:\\\/\\\/pingtungtimes.com.tw\\\/?p=337376#primaryimage\",\"url\":\"https:\\\/\\\/pingtungtimes.com.tw\\\/wp-content\\\/uploads\\\/1-387.jpg\",\"contentUrl\":\"https:\\\/\\\/pingtungtimes.com.tw\\\/wp-content\\\/uploads\\\/1-387.jpg\",\"width\":400,\"height\":179},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/pingtungtimes.com.tw\\\/?p=337376#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"\u9996\u9801\",\"item\":\"https:\\\/\\\/pingtungtimes.com.tw\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Bybit\u8207Block Scholes\u806f\u5408\u5831\u544a\uff1a\u4ee5\u592a\u574a\u596e\u8d77\u76f4\u8ffd\uff0cETH-BTC\u6ce2\u52d5\u7387\u89f8\u53ca\u4e94\u5e74\u65b0\u9ad8\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/pingtungtimes.com.tw\\\/#website\",\"url\":\"https:\\\/\\\/pingtungtimes.com.tw\\\/\",\"name\":\"\u5c4f\u6771\u6642\u5831\u96fb\u5b50\u5831\",\"description\":\"\u5c4f\u6771\u6642\u5831\u96fb\u5b50\u5831PingtungTimes\uff0c\u6700\u95dc\u5fc3\u5728\u5730\u7684\u5a92\u9ad4\",\"publisher\":{\"@id\":\"https:\\\/\\\/pingtungtimes.com.tw\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/pingtungtimes.com.tw\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"zh-TW\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/pingtungtimes.com.tw\\\/#organization\",\"name\":\"\u5c4f\u6771\u6642\u5831\u96fb\u5b50\u5831\",\"url\":\"https:\\\/\\\/pingtungtimes.com.tw\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"zh-TW\",\"@id\":\"https:\\\/\\\/pingtungtimes.com.tw\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/pingtungtimes.com.tw\\\/wp-content\\\/uploads\\\/2023\\\/02\\\/logo-150.png\",\"contentUrl\":\"https:\\\/\\\/pingtungtimes.com.tw\\\/wp-content\\\/uploads\\\/2023\\\/02\\\/logo-150.png\",\"width\":150,\"height\":150,\"caption\":\"\u5c4f\u6771\u6642\u5831\u96fb\u5b50\u5831\"},\"image\":{\"@id\":\"https:\\\/\\\/pingtungtimes.com.tw\\\/#\\\/schema\\\/logo\\\/image\\\/\"},\"sameAs\":[\"https:\\\/\\\/www.facebook.com\\\/pingtungnews\"]},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/pingtungtimes.com.tw\\\/#\\\/schema\\\/person\\\/683b937f29ec1537972f6c41e22a2cf3\",\"name\":\"\u7f8e\u901a\u793e\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"zh-TW\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/6c21e24ce33ca5d4572e343395adac2bbef44ff7035a74ea2cab2443c7f0a5f3?s=96&d=blank&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/6c21e24ce33ca5d4572e343395adac2bbef44ff7035a74ea2cab2443c7f0a5f3?s=96&d=blank&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/6c21e24ce33ca5d4572e343395adac2bbef44ff7035a74ea2cab2443c7f0a5f3?s=96&d=blank&r=g\",\"caption\":\"\u7f8e\u901a\u793e\"},\"url\":\"https:\\\/\\\/pingtungtimes.com.tw\\\/?author=16\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Bybit\u8207Block Scholes\u806f\u5408\u5831\u544a\uff1a\u4ee5\u592a\u574a\u596e\u8d77\u76f4\u8ffd\uff0cETH-BTC\u6ce2\u52d5\u7387\u89f8\u53ca\u4e94\u5e74\u65b0\u9ad8 - \u5c4f\u6771\u6642\u5831\u96fb\u5b50\u5831","description":"Figure 1. BTC (green) and ETH (pink) at-the-money options\u2019 implied volatility at the 30-day tenor. Source: Block Scholes  2025\u5e745\u6708\uff0cETH\u8207BTC\u671f\u6b0a\u4e4b\u9593\u51fa\u73fe\u4e86\u986f\u8457\u7684\u96b1\u542b\u6ce2\u52d5\u7387\u932f\u4f4d\u3002\u96b1\u542b\u6ce2\u52d5\u7387\u53cd\u6620\u4e86\u5e02\u5834\u5c0d\u672a\u4f86\u671f\u6b0a\u6709\u6548\u671f\u5167\u50f9\u683c\u6ce2\u52d5\u7684\u9810\u671f\u3002\u6708\u521d\uff0c7\u5929\u671f\u671f\u6b0a\u7684ETH-BTC\u96b1\u542b\u6ce2\u52d5\u7387\u6bd4\u7387\u5f98\u5f8a\u57281.5\u5de6\u53f3\uff0c\u8868\u660eETH\u671f\u6b0a\u7684\u5b9a\u50f9\u96b1\u542b\u6ce2\u52d5\u7387\u9810\u671f\u6bd4BTC\u671f\u6b0a\u9ad8\u51fa50%\u3002 \u81f35\u670816\u65e5\uff0c\u96a8\u8457BTC\u96b1\u542b\u6ce2\u52d5\u7387\u8dcc\u81f32023\u5e7410\u6708\u4ee5\u4f86\u7684\u6700\u4f4e\u6c34\u5e73\uff0c\u8a72\u6bd4\u7387\u6500\u5347\u81f32\u500d\u4ee5\u4e0a\uff0c\u9054\u5230\u81ea2020\u5e74\u4ee5\u4f86\u672a\u898b\u7684\u5cf0\u503c\u3002BTC\u6ce2\u52d5\u7387\u7684\u4e0b\u8dcc\uff0c\u6253\u7834\u4e86\u7dad\u6301\u8d85\u904e19\u500b\u6708\u768435%\u652f\u6490\u4f4d\uff1b\u800cETH\u7684\u77ed\u671f\u96b1\u542b\u6ce2\u52d5\u7387\u96d6\u7565\u4f4e\u65bc5\u670810\u65e5\u9ad8\u9ede\uff0c\u4f46\u4ecd\u4fdd\u6301\u9ad8\u4f4d\u3002\u9019\u7a2e\u6ce2\u52d5\u7387\u5dee\u7570\u572830\u5929\u671f\u9650\u7d50\u69cb\u4e2d\u5c24\u70ba\u660e\u986f\uff0c\u9054\u5230\u4e86\u81ea2022\u5e74\u5e74\u4e2d\u4ee5\u4f86\u7684\u6700\u95ca\u6c34\u5e73\u3002  \u5be6\u969b\u6ce2\u52d5\u7387\u8da8\u52e2\u5f37\u5316\u5206\u5316  \u96b1\u542b\u6ce2\u52d5\u7387\u7684\u6025\u5287\u5206\u5316\u5f97\u5230\u4e86\u5be6\u969b\u6ce2\u52d5\u7387\uff08\u8861\u91cf\u5be6\u969b\u6b77\u53f2\u50f9\u683c\u6ce2\u52d5\u7684\u6307\u6a19\uff09\u8da8\u52e2\u7684\u5370\u8b49\u30025\u6708\u4efd\uff0cETH\u7684\u5be6\u969b\u6ce2\u52d5\u7387\u5728\u5404\u671f\u9650\u4e0a\u5747\u986f\u8457\u8d85\u904eBTC\uff0c\u52a0\u5287\u4e86\u5e02\u5834\u5c0d\u9019\u5169\u7a2e\u8cc7\u7522\u5c07\u6301\u7e8c\u5206\u5316\u7684\u9810\u671f\u3002 5\u670815\u65e5\uff0cETH\u8207BTC\u76847\u5929\u5be6\u969b\u6ce2\u52d5\u7387\u6bd4\u7387\u9054\u5230\u5cf0\u503c\uff0c\u96b1\u542b\u6ce2\u52d5\u7387\u6bd4\u7387\u7dca\u96a8\u5176\u5f8c\uff0c\u9019\u8868\u660e\u5e02\u5834\u53c3\u8207\u8005\u9810\u671fETH\u8f03\u9ad8\u7684\u6ce2\u52d5\u7387\u5c07\u6301\u7e8c\u4e0b\u53bb\u3002\u9019\u4e00\u8da8\u52e2\u4e26\u975e\u65b0\u73fe\u8c61\uff1a\u81ea2024\u5e747\u6708\u4ee5\u4f86\uff0c\u7121\u8ad6\u662f\u5728\u725b\u5e02\u9084\u662f\u5e02\u5834\u627f\u58d3\u6642\u671f\uff0cETH-BTC\u6ce2\u52d5\u7387\u6bd4\u7387\u4e00\u76f4\u7a69\u6b65\u6500\u5347\u3002 ETH\u57285\u6708\u4efd\u7684\u7a81\u51fa\u8868\u73fe\u7531\u591a\u91cd\u56e0\u7d20\u5171\u540c\u63a8\u52d5\uff0c\u5305\u62ec\u5229\u597d\u7684\u82f1\u7f8e\u8cbf\u6613\u6d88\u606f\u3002\u50c55\u67088\u65e5\u7576\u5929\uff0cETH\u5c31\u98c6\u5347\u903e23%\uff0c\u4e26\u5728\u540c\u671f\u8868\u73fe\u6301\u7e8c\u512a\u65bc\u6f32\u5e45\u7d0410%\u7684BTC\u3002\u5118\u7ba1\u52e2\u982d\u5f37\u52c1\uff0c\u4f46ETH\u50f9\u683c\u4ecd\u8f03\u51762025\u5e741\u6708\u7684\u5cf0\u503c\u53ca\u6b77\u53f2\u9ad8\u9ede\u4f4e\u903e50%\u3002 #Bybit \/ #TheCryptoArk \/ #BybitReport  \u95dc\u65bc Bybit  Bybit\u6210\u7acb\u65bc2018\u5e74\uff0c\u662f\u5168\u7403\u4ea4\u6613\u91cf\u7b2c\u4e8c\u5927\u52a0\u5bc6\u8ca8\u5e63\u4ea4\u6613\u6240\uff0c\u670d\u52d9\u8d85\u904e7000\u842c\u5168\u7403\u7528\u6236\u3002Bybit\u81f4\u529b\u65bc\u70ba\u6bcf\u500b\u4eba\u6253\u9020\u4e00\u500b\u66f4\u7c21\u55ae\u3001\u958b\u653e\u548c\u5e73\u7b49\u7684\u751f\u614b\u7cfb\u7d71\uff0c\u5f9e\u800c\u5728\u53bb\u4e2d\u5fc3\u5316\u7684\u4e16\u754c\u4e2d\u91cd\u65b0\u5b9a\u7fa9\u958b\u653e\u6027\u3002Bybit\u6df1\u8015Web3\u9818\u57df\uff0c\u8207\u9818\u5148\u7684\u5340\u584a\u93c8\u5354\u8b70\u9032\u884c\u6230\u7565\u5408\u4f5c\uff0c\u63d0\u4f9b\u5805\u5be6\u7684\u57fa\u790e\u8a2d\u65bd\u4e26\u63a8\u52d5\u93c8\u4e0a\u5275\u65b0\u3002Bybit\u6191\u501f\u5b89\u5168\u7684\u6258\u7ba1\u670d\u52d9\u3001\u591a\u5143\u5316\u7684\u5e02\u5834\u3001\u76f4\u89c0\u7684\u7528\u6236\u9ad4\u9a57\u548c\u5148\u9032\u7684\u5340\u584a\u93c8\u5de5\u5177\u800c\u805e\u540d\uff0c\u642d\u5efa\u4e86\u50b3\u7d71\u91d1\u878d(TradFi)\u8207\u53bb\u4e2d\u5fc3\u5316\u91d1\u878d(DeFi)\u4e4b\u9593\u7684\u6a4b\u6a11\uff0c\u8ce6\u80fd\u5efa\u8a2d\u8005\u3001\u5275\u9020\u8005\u548c\u611b\u597d\u8005\u5145\u5206\u6316\u6398Web3\u7684\u5168\u90e8\u6f5b\u529b\u3002\u63a2\u7d22\u53bb\u4e2d\u5fc3\u5316\u91d1\u878d\u7684\u672a\u4f86\uff0c\u8acb\u8a2a\u554fBybit.com\u3002 \u5982\u9700\u77ad\u89e3Bybit\u66f4\u591a\u8a73\u60c5\uff0c\u8acb\u8a2a\u554fBybit Press\u5a92\u9ad4\u5782\u8a62\uff0c\u8acb\u806f\u7e6b\uff1amedia@bybit.com\u5982\u9700\u77ad\u89e3\u6700\u65b0\u4fe1\u606f\uff0c\u8acb\u95dc\u6ce8Bybit\u793e\u7fa4\u548c\u793e\u4ea4\u5a92\u9ad4  Discord \u00a0\u00a0|\u00a0Facebook\u00a0|\u00a0Instagram\u00a0|\u00a0LinkedIn\u00a0|\u00a0Reddit\u00a0|\u00a0Telegram\u00a0|\u00a0TikTok\u00a0|\u00a0X\u00a0|\u00a0Youtube \u00a0","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/pingtungtimes.com.tw\/?p=337376","og_locale":"zh_TW","og_type":"article","og_title":"Bybit\u8207Block Scholes\u806f\u5408\u5831\u544a\uff1a\u4ee5\u592a\u574a\u596e\u8d77\u76f4\u8ffd\uff0cETH-BTC\u6ce2\u52d5\u7387\u89f8\u53ca\u4e94\u5e74\u65b0\u9ad8 - \u5c4f\u6771\u6642\u5831\u96fb\u5b50\u5831","og_description":"Figure 1. BTC (green) and ETH (pink) at-the-money options\u2019 implied volatility at the 30-day tenor. Source: Block Scholes  2025\u5e745\u6708\uff0cETH\u8207BTC\u671f\u6b0a\u4e4b\u9593\u51fa\u73fe\u4e86\u986f\u8457\u7684\u96b1\u542b\u6ce2\u52d5\u7387\u932f\u4f4d\u3002\u96b1\u542b\u6ce2\u52d5\u7387\u53cd\u6620\u4e86\u5e02\u5834\u5c0d\u672a\u4f86\u671f\u6b0a\u6709\u6548\u671f\u5167\u50f9\u683c\u6ce2\u52d5\u7684\u9810\u671f\u3002\u6708\u521d\uff0c7\u5929\u671f\u671f\u6b0a\u7684ETH-BTC\u96b1\u542b\u6ce2\u52d5\u7387\u6bd4\u7387\u5f98\u5f8a\u57281.5\u5de6\u53f3\uff0c\u8868\u660eETH\u671f\u6b0a\u7684\u5b9a\u50f9\u96b1\u542b\u6ce2\u52d5\u7387\u9810\u671f\u6bd4BTC\u671f\u6b0a\u9ad8\u51fa50%\u3002 \u81f35\u670816\u65e5\uff0c\u96a8\u8457BTC\u96b1\u542b\u6ce2\u52d5\u7387\u8dcc\u81f32023\u5e7410\u6708\u4ee5\u4f86\u7684\u6700\u4f4e\u6c34\u5e73\uff0c\u8a72\u6bd4\u7387\u6500\u5347\u81f32\u500d\u4ee5\u4e0a\uff0c\u9054\u5230\u81ea2020\u5e74\u4ee5\u4f86\u672a\u898b\u7684\u5cf0\u503c\u3002BTC\u6ce2\u52d5\u7387\u7684\u4e0b\u8dcc\uff0c\u6253\u7834\u4e86\u7dad\u6301\u8d85\u904e19\u500b\u6708\u768435%\u652f\u6490\u4f4d\uff1b\u800cETH\u7684\u77ed\u671f\u96b1\u542b\u6ce2\u52d5\u7387\u96d6\u7565\u4f4e\u65bc5\u670810\u65e5\u9ad8\u9ede\uff0c\u4f46\u4ecd\u4fdd\u6301\u9ad8\u4f4d\u3002\u9019\u7a2e\u6ce2\u52d5\u7387\u5dee\u7570\u572830\u5929\u671f\u9650\u7d50\u69cb\u4e2d\u5c24\u70ba\u660e\u986f\uff0c\u9054\u5230\u4e86\u81ea2022\u5e74\u5e74\u4e2d\u4ee5\u4f86\u7684\u6700\u95ca\u6c34\u5e73\u3002  \u5be6\u969b\u6ce2\u52d5\u7387\u8da8\u52e2\u5f37\u5316\u5206\u5316  \u96b1\u542b\u6ce2\u52d5\u7387\u7684\u6025\u5287\u5206\u5316\u5f97\u5230\u4e86\u5be6\u969b\u6ce2\u52d5\u7387\uff08\u8861\u91cf\u5be6\u969b\u6b77\u53f2\u50f9\u683c\u6ce2\u52d5\u7684\u6307\u6a19\uff09\u8da8\u52e2\u7684\u5370\u8b49\u30025\u6708\u4efd\uff0cETH\u7684\u5be6\u969b\u6ce2\u52d5\u7387\u5728\u5404\u671f\u9650\u4e0a\u5747\u986f\u8457\u8d85\u904eBTC\uff0c\u52a0\u5287\u4e86\u5e02\u5834\u5c0d\u9019\u5169\u7a2e\u8cc7\u7522\u5c07\u6301\u7e8c\u5206\u5316\u7684\u9810\u671f\u3002 5\u670815\u65e5\uff0cETH\u8207BTC\u76847\u5929\u5be6\u969b\u6ce2\u52d5\u7387\u6bd4\u7387\u9054\u5230\u5cf0\u503c\uff0c\u96b1\u542b\u6ce2\u52d5\u7387\u6bd4\u7387\u7dca\u96a8\u5176\u5f8c\uff0c\u9019\u8868\u660e\u5e02\u5834\u53c3\u8207\u8005\u9810\u671fETH\u8f03\u9ad8\u7684\u6ce2\u52d5\u7387\u5c07\u6301\u7e8c\u4e0b\u53bb\u3002\u9019\u4e00\u8da8\u52e2\u4e26\u975e\u65b0\u73fe\u8c61\uff1a\u81ea2024\u5e747\u6708\u4ee5\u4f86\uff0c\u7121\u8ad6\u662f\u5728\u725b\u5e02\u9084\u662f\u5e02\u5834\u627f\u58d3\u6642\u671f\uff0cETH-BTC\u6ce2\u52d5\u7387\u6bd4\u7387\u4e00\u76f4\u7a69\u6b65\u6500\u5347\u3002 ETH\u57285\u6708\u4efd\u7684\u7a81\u51fa\u8868\u73fe\u7531\u591a\u91cd\u56e0\u7d20\u5171\u540c\u63a8\u52d5\uff0c\u5305\u62ec\u5229\u597d\u7684\u82f1\u7f8e\u8cbf\u6613\u6d88\u606f\u3002\u50c55\u67088\u65e5\u7576\u5929\uff0cETH\u5c31\u98c6\u5347\u903e23%\uff0c\u4e26\u5728\u540c\u671f\u8868\u73fe\u6301\u7e8c\u512a\u65bc\u6f32\u5e45\u7d0410%\u7684BTC\u3002\u5118\u7ba1\u52e2\u982d\u5f37\u52c1\uff0c\u4f46ETH\u50f9\u683c\u4ecd\u8f03\u51762025\u5e741\u6708\u7684\u5cf0\u503c\u53ca\u6b77\u53f2\u9ad8\u9ede\u4f4e\u903e50%\u3002 #Bybit \/ #TheCryptoArk \/ #BybitReport  \u95dc\u65bc Bybit  Bybit\u6210\u7acb\u65bc2018\u5e74\uff0c\u662f\u5168\u7403\u4ea4\u6613\u91cf\u7b2c\u4e8c\u5927\u52a0\u5bc6\u8ca8\u5e63\u4ea4\u6613\u6240\uff0c\u670d\u52d9\u8d85\u904e7000\u842c\u5168\u7403\u7528\u6236\u3002Bybit\u81f4\u529b\u65bc\u70ba\u6bcf\u500b\u4eba\u6253\u9020\u4e00\u500b\u66f4\u7c21\u55ae\u3001\u958b\u653e\u548c\u5e73\u7b49\u7684\u751f\u614b\u7cfb\u7d71\uff0c\u5f9e\u800c\u5728\u53bb\u4e2d\u5fc3\u5316\u7684\u4e16\u754c\u4e2d\u91cd\u65b0\u5b9a\u7fa9\u958b\u653e\u6027\u3002Bybit\u6df1\u8015Web3\u9818\u57df\uff0c\u8207\u9818\u5148\u7684\u5340\u584a\u93c8\u5354\u8b70\u9032\u884c\u6230\u7565\u5408\u4f5c\uff0c\u63d0\u4f9b\u5805\u5be6\u7684\u57fa\u790e\u8a2d\u65bd\u4e26\u63a8\u52d5\u93c8\u4e0a\u5275\u65b0\u3002Bybit\u6191\u501f\u5b89\u5168\u7684\u6258\u7ba1\u670d\u52d9\u3001\u591a\u5143\u5316\u7684\u5e02\u5834\u3001\u76f4\u89c0\u7684\u7528\u6236\u9ad4\u9a57\u548c\u5148\u9032\u7684\u5340\u584a\u93c8\u5de5\u5177\u800c\u805e\u540d\uff0c\u642d\u5efa\u4e86\u50b3\u7d71\u91d1\u878d(TradFi)\u8207\u53bb\u4e2d\u5fc3\u5316\u91d1\u878d(DeFi)\u4e4b\u9593\u7684\u6a4b\u6a11\uff0c\u8ce6\u80fd\u5efa\u8a2d\u8005\u3001\u5275\u9020\u8005\u548c\u611b\u597d\u8005\u5145\u5206\u6316\u6398Web3\u7684\u5168\u90e8\u6f5b\u529b\u3002\u63a2\u7d22\u53bb\u4e2d\u5fc3\u5316\u91d1\u878d\u7684\u672a\u4f86\uff0c\u8acb\u8a2a\u554fBybit.com\u3002 \u5982\u9700\u77ad\u89e3Bybit\u66f4\u591a\u8a73\u60c5\uff0c\u8acb\u8a2a\u554fBybit Press\u5a92\u9ad4\u5782\u8a62\uff0c\u8acb\u806f\u7e6b\uff1amedia@bybit.com\u5982\u9700\u77ad\u89e3\u6700\u65b0\u4fe1\u606f\uff0c\u8acb\u95dc\u6ce8Bybit\u793e\u7fa4\u548c\u793e\u4ea4\u5a92\u9ad4  Discord \u00a0\u00a0|\u00a0Facebook\u00a0|\u00a0Instagram\u00a0|\u00a0LinkedIn\u00a0|\u00a0Reddit\u00a0|\u00a0Telegram\u00a0|\u00a0TikTok\u00a0|\u00a0X\u00a0|\u00a0Youtube \u00a0","og_url":"https:\/\/pingtungtimes.com.tw\/?p=337376","og_site_name":"\u5c4f\u6771\u6642\u5831\u96fb\u5b50\u5831","article_publisher":"https:\/\/www.facebook.com\/pingtungnews","article_published_time":"2025-06-18T10:19:00+00:00","og_image":[{"width":3000,"height":1990,"url":"https:\/\/pingtungtimes.com.tw\/wp-content\/uploads\/2023\/02\/logo-150.png","type":"image\/jpeg"}],"author":"\u7f8e\u901a\u793e","twitter_card":"summary_large_image","twitter_misc":{"\u4f5c\u8005:":"\u7f8e\u901a\u793e"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"NewsArticle","@id":"https:\/\/pingtungtimes.com.tw\/?p=337376#article","isPartOf":{"@id":"https:\/\/pingtungtimes.com.tw\/?p=337376"},"author":{"name":"\u7f8e\u901a\u793e","@id":"https:\/\/pingtungtimes.com.tw\/#\/schema\/person\/683b937f29ec1537972f6c41e22a2cf3"},"headline":"Bybit\u8207Block Scholes\u806f\u5408\u5831\u544a\uff1a\u4ee5\u592a\u574a\u596e\u8d77\u76f4\u8ffd\uff0cETH-BTC\u6ce2\u52d5\u7387\u89f8\u53ca\u4e94\u5e74\u65b0\u9ad8","datePublished":"2025-06-18T10:19:00+00:00","mainEntityOfPage":{"@id":"https:\/\/pingtungtimes.com.tw\/?p=337376"},"wordCount":69,"publisher":{"@id":"https:\/\/pingtungtimes.com.tw\/#organization"},"image":{"@id":"https:\/\/pingtungtimes.com.tw\/?p=337376#primaryimage"},"thumbnailUrl":"https:\/\/pingtungtimes.com.tw\/wp-content\/uploads\/1-387.jpg","articleSection":["\u7f8e\u901a\u793e"],"inLanguage":"zh-TW"},{"@type":"WebPage","@id":"https:\/\/pingtungtimes.com.tw\/?p=337376","url":"https:\/\/pingtungtimes.com.tw\/?p=337376","name":"Bybit\u8207Block Scholes\u806f\u5408\u5831\u544a\uff1a\u4ee5\u592a\u574a\u596e\u8d77\u76f4\u8ffd\uff0cETH-BTC\u6ce2\u52d5\u7387\u89f8\u53ca\u4e94\u5e74\u65b0\u9ad8 - \u5c4f\u6771\u6642\u5831\u96fb\u5b50\u5831","isPartOf":{"@id":"https:\/\/pingtungtimes.com.tw\/#website"},"primaryImageOfPage":{"@id":"https:\/\/pingtungtimes.com.tw\/?p=337376#primaryimage"},"image":{"@id":"https:\/\/pingtungtimes.com.tw\/?p=337376#primaryimage"},"thumbnailUrl":"https:\/\/pingtungtimes.com.tw\/wp-content\/uploads\/1-387.jpg","datePublished":"2025-06-18T10:19:00+00:00","description":"Figure 1. BTC (green) and ETH (pink) at-the-money options\u2019 implied volatility at the 30-day tenor. Source: Block Scholes 2025\u5e745\u6708\uff0cETH\u8207BTC\u671f\u6b0a\u4e4b\u9593\u51fa\u73fe\u4e86\u986f\u8457\u7684\u96b1\u542b\u6ce2\u52d5\u7387\u932f\u4f4d\u3002\u96b1\u542b\u6ce2\u52d5\u7387\u53cd\u6620\u4e86\u5e02\u5834\u5c0d\u672a\u4f86\u671f\u6b0a\u6709\u6548\u671f\u5167\u50f9\u683c\u6ce2\u52d5\u7684\u9810\u671f\u3002\u6708\u521d\uff0c7\u5929\u671f\u671f\u6b0a\u7684ETH-BTC\u96b1\u542b\u6ce2\u52d5\u7387\u6bd4\u7387\u5f98\u5f8a\u57281.5\u5de6\u53f3\uff0c\u8868\u660eETH\u671f\u6b0a\u7684\u5b9a\u50f9\u96b1\u542b\u6ce2\u52d5\u7387\u9810\u671f\u6bd4BTC\u671f\u6b0a\u9ad8\u51fa50%\u3002 \u81f35\u670816\u65e5\uff0c\u96a8\u8457BTC\u96b1\u542b\u6ce2\u52d5\u7387\u8dcc\u81f32023\u5e7410\u6708\u4ee5\u4f86\u7684\u6700\u4f4e\u6c34\u5e73\uff0c\u8a72\u6bd4\u7387\u6500\u5347\u81f32\u500d\u4ee5\u4e0a\uff0c\u9054\u5230\u81ea2020\u5e74\u4ee5\u4f86\u672a\u898b\u7684\u5cf0\u503c\u3002BTC\u6ce2\u52d5\u7387\u7684\u4e0b\u8dcc\uff0c\u6253\u7834\u4e86\u7dad\u6301\u8d85\u904e19\u500b\u6708\u768435%\u652f\u6490\u4f4d\uff1b\u800cETH\u7684\u77ed\u671f\u96b1\u542b\u6ce2\u52d5\u7387\u96d6\u7565\u4f4e\u65bc5\u670810\u65e5\u9ad8\u9ede\uff0c\u4f46\u4ecd\u4fdd\u6301\u9ad8\u4f4d\u3002\u9019\u7a2e\u6ce2\u52d5\u7387\u5dee\u7570\u572830\u5929\u671f\u9650\u7d50\u69cb\u4e2d\u5c24\u70ba\u660e\u986f\uff0c\u9054\u5230\u4e86\u81ea2022\u5e74\u5e74\u4e2d\u4ee5\u4f86\u7684\u6700\u95ca\u6c34\u5e73\u3002 \u5be6\u969b\u6ce2\u52d5\u7387\u8da8\u52e2\u5f37\u5316\u5206\u5316 \u96b1\u542b\u6ce2\u52d5\u7387\u7684\u6025\u5287\u5206\u5316\u5f97\u5230\u4e86\u5be6\u969b\u6ce2\u52d5\u7387\uff08\u8861\u91cf\u5be6\u969b\u6b77\u53f2\u50f9\u683c\u6ce2\u52d5\u7684\u6307\u6a19\uff09\u8da8\u52e2\u7684\u5370\u8b49\u30025\u6708\u4efd\uff0cETH\u7684\u5be6\u969b\u6ce2\u52d5\u7387\u5728\u5404\u671f\u9650\u4e0a\u5747\u986f\u8457\u8d85\u904eBTC\uff0c\u52a0\u5287\u4e86\u5e02\u5834\u5c0d\u9019\u5169\u7a2e\u8cc7\u7522\u5c07\u6301\u7e8c\u5206\u5316\u7684\u9810\u671f\u3002 5\u670815\u65e5\uff0cETH\u8207BTC\u76847\u5929\u5be6\u969b\u6ce2\u52d5\u7387\u6bd4\u7387\u9054\u5230\u5cf0\u503c\uff0c\u96b1\u542b\u6ce2\u52d5\u7387\u6bd4\u7387\u7dca\u96a8\u5176\u5f8c\uff0c\u9019\u8868\u660e\u5e02\u5834\u53c3\u8207\u8005\u9810\u671fETH\u8f03\u9ad8\u7684\u6ce2\u52d5\u7387\u5c07\u6301\u7e8c\u4e0b\u53bb\u3002\u9019\u4e00\u8da8\u52e2\u4e26\u975e\u65b0\u73fe\u8c61\uff1a\u81ea2024\u5e747\u6708\u4ee5\u4f86\uff0c\u7121\u8ad6\u662f\u5728\u725b\u5e02\u9084\u662f\u5e02\u5834\u627f\u58d3\u6642\u671f\uff0cETH-BTC\u6ce2\u52d5\u7387\u6bd4\u7387\u4e00\u76f4\u7a69\u6b65\u6500\u5347\u3002 ETH\u57285\u6708\u4efd\u7684\u7a81\u51fa\u8868\u73fe\u7531\u591a\u91cd\u56e0\u7d20\u5171\u540c\u63a8\u52d5\uff0c\u5305\u62ec\u5229\u597d\u7684\u82f1\u7f8e\u8cbf\u6613\u6d88\u606f\u3002\u50c55\u67088\u65e5\u7576\u5929\uff0cETH\u5c31\u98c6\u5347\u903e23%\uff0c\u4e26\u5728\u540c\u671f\u8868\u73fe\u6301\u7e8c\u512a\u65bc\u6f32\u5e45\u7d0410%\u7684BTC\u3002\u5118\u7ba1\u52e2\u982d\u5f37\u52c1\uff0c\u4f46ETH\u50f9\u683c\u4ecd\u8f03\u51762025\u5e741\u6708\u7684\u5cf0\u503c\u53ca\u6b77\u53f2\u9ad8\u9ede\u4f4e\u903e50%\u3002 #Bybit \/ #TheCryptoArk \/ #BybitReport \u95dc\u65bc Bybit Bybit\u6210\u7acb\u65bc2018\u5e74\uff0c\u662f\u5168\u7403\u4ea4\u6613\u91cf\u7b2c\u4e8c\u5927\u52a0\u5bc6\u8ca8\u5e63\u4ea4\u6613\u6240\uff0c\u670d\u52d9\u8d85\u904e7000\u842c\u5168\u7403\u7528\u6236\u3002Bybit\u81f4\u529b\u65bc\u70ba\u6bcf\u500b\u4eba\u6253\u9020\u4e00\u500b\u66f4\u7c21\u55ae\u3001\u958b\u653e\u548c\u5e73\u7b49\u7684\u751f\u614b\u7cfb\u7d71\uff0c\u5f9e\u800c\u5728\u53bb\u4e2d\u5fc3\u5316\u7684\u4e16\u754c\u4e2d\u91cd\u65b0\u5b9a\u7fa9\u958b\u653e\u6027\u3002Bybit\u6df1\u8015Web3\u9818\u57df\uff0c\u8207\u9818\u5148\u7684\u5340\u584a\u93c8\u5354\u8b70\u9032\u884c\u6230\u7565\u5408\u4f5c\uff0c\u63d0\u4f9b\u5805\u5be6\u7684\u57fa\u790e\u8a2d\u65bd\u4e26\u63a8\u52d5\u93c8\u4e0a\u5275\u65b0\u3002Bybit\u6191\u501f\u5b89\u5168\u7684\u6258\u7ba1\u670d\u52d9\u3001\u591a\u5143\u5316\u7684\u5e02\u5834\u3001\u76f4\u89c0\u7684\u7528\u6236\u9ad4\u9a57\u548c\u5148\u9032\u7684\u5340\u584a\u93c8\u5de5\u5177\u800c\u805e\u540d\uff0c\u642d\u5efa\u4e86\u50b3\u7d71\u91d1\u878d(TradFi)\u8207\u53bb\u4e2d\u5fc3\u5316\u91d1\u878d(DeFi)\u4e4b\u9593\u7684\u6a4b\u6a11\uff0c\u8ce6\u80fd\u5efa\u8a2d\u8005\u3001\u5275\u9020\u8005\u548c\u611b\u597d\u8005\u5145\u5206\u6316\u6398Web3\u7684\u5168\u90e8\u6f5b\u529b\u3002\u63a2\u7d22\u53bb\u4e2d\u5fc3\u5316\u91d1\u878d\u7684\u672a\u4f86\uff0c\u8acb\u8a2a\u554fBybit.com\u3002 \u5982\u9700\u77ad\u89e3Bybit\u66f4\u591a\u8a73\u60c5\uff0c\u8acb\u8a2a\u554fBybit Press\u5a92\u9ad4\u5782\u8a62\uff0c\u8acb\u806f\u7e6b\uff1amedia@bybit.com\u5982\u9700\u77ad\u89e3\u6700\u65b0\u4fe1\u606f\uff0c\u8acb\u95dc\u6ce8Bybit\u793e\u7fa4\u548c\u793e\u4ea4\u5a92\u9ad4 Discord \u00a0\u00a0|\u00a0Facebook\u00a0|\u00a0Instagram\u00a0|\u00a0LinkedIn\u00a0|\u00a0Reddit\u00a0|\u00a0Telegram\u00a0|\u00a0TikTok\u00a0|\u00a0X\u00a0|\u00a0Youtube \u00a0","breadcrumb":{"@id":"https:\/\/pingtungtimes.com.tw\/?p=337376#breadcrumb"},"inLanguage":"zh-TW","potentialAction":[{"@type":"ReadAction","target":["https:\/\/pingtungtimes.com.tw\/?p=337376"]}]},{"@type":"ImageObject","inLanguage":"zh-TW","@id":"https:\/\/pingtungtimes.com.tw\/?p=337376#primaryimage","url":"https:\/\/pingtungtimes.com.tw\/wp-content\/uploads\/1-387.jpg","contentUrl":"https:\/\/pingtungtimes.com.tw\/wp-content\/uploads\/1-387.jpg","width":400,"height":179},{"@type":"BreadcrumbList","@id":"https:\/\/pingtungtimes.com.tw\/?p=337376#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"\u9996\u9801","item":"https:\/\/pingtungtimes.com.tw\/"},{"@type":"ListItem","position":2,"name":"Bybit\u8207Block Scholes\u806f\u5408\u5831\u544a\uff1a\u4ee5\u592a\u574a\u596e\u8d77\u76f4\u8ffd\uff0cETH-BTC\u6ce2\u52d5\u7387\u89f8\u53ca\u4e94\u5e74\u65b0\u9ad8"}]},{"@type":"WebSite","@id":"https:\/\/pingtungtimes.com.tw\/#website","url":"https:\/\/pingtungtimes.com.tw\/","name":"\u5c4f\u6771\u6642\u5831\u96fb\u5b50\u5831","description":"\u5c4f\u6771\u6642\u5831\u96fb\u5b50\u5831PingtungTimes\uff0c\u6700\u95dc\u5fc3\u5728\u5730\u7684\u5a92\u9ad4","publisher":{"@id":"https:\/\/pingtungtimes.com.tw\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/pingtungtimes.com.tw\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"zh-TW"},{"@type":"Organization","@id":"https:\/\/pingtungtimes.com.tw\/#organization","name":"\u5c4f\u6771\u6642\u5831\u96fb\u5b50\u5831","url":"https:\/\/pingtungtimes.com.tw\/","logo":{"@type":"ImageObject","inLanguage":"zh-TW","@id":"https:\/\/pingtungtimes.com.tw\/#\/schema\/logo\/image\/","url":"https:\/\/pingtungtimes.com.tw\/wp-content\/uploads\/2023\/02\/logo-150.png","contentUrl":"https:\/\/pingtungtimes.com.tw\/wp-content\/uploads\/2023\/02\/logo-150.png","width":150,"height":150,"caption":"\u5c4f\u6771\u6642\u5831\u96fb\u5b50\u5831"},"image":{"@id":"https:\/\/pingtungtimes.com.tw\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/pingtungnews"]},{"@type":"Person","@id":"https:\/\/pingtungtimes.com.tw\/#\/schema\/person\/683b937f29ec1537972f6c41e22a2cf3","name":"\u7f8e\u901a\u793e","image":{"@type":"ImageObject","inLanguage":"zh-TW","@id":"https:\/\/secure.gravatar.com\/avatar\/6c21e24ce33ca5d4572e343395adac2bbef44ff7035a74ea2cab2443c7f0a5f3?s=96&d=blank&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/6c21e24ce33ca5d4572e343395adac2bbef44ff7035a74ea2cab2443c7f0a5f3?s=96&d=blank&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/6c21e24ce33ca5d4572e343395adac2bbef44ff7035a74ea2cab2443c7f0a5f3?s=96&d=blank&r=g","caption":"\u7f8e\u901a\u793e"},"url":"https:\/\/pingtungtimes.com.tw\/?author=16"}]}},"_links":{"self":[{"href":"https:\/\/pingtungtimes.com.tw\/index.php?rest_route=\/wp\/v2\/posts\/337376","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/pingtungtimes.com.tw\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/pingtungtimes.com.tw\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/pingtungtimes.com.tw\/index.php?rest_route=\/wp\/v2\/users\/16"}],"replies":[{"embeddable":true,"href":"https:\/\/pingtungtimes.com.tw\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=337376"}],"version-history":[{"count":0,"href":"https:\/\/pingtungtimes.com.tw\/index.php?rest_route=\/wp\/v2\/posts\/337376\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/pingtungtimes.com.tw\/index.php?rest_route=\/wp\/v2\/media\/337377"}],"wp:attachment":[{"href":"https:\/\/pingtungtimes.com.tw\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=337376"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/pingtungtimes.com.tw\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=337376"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pingtungtimes.com.tw\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=337376"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}