The spread between Volmex’s BVIV (30‑day implied BTC volatility) and the S&P 500 VIX has widened after breaking out of a months‑long 20.000–32.000 range and piercing a downtrend since March 2024. Volmex founder Cole Kennelly says the BVIV–VIX spread often signals relative crypto vs. equity volatility and can present relative‑value opportunities for multi‑legged cross‑asset volatility trades. Such strategies are capital‑intensive, risky, typically executed via non‑directional options or volatility futures, and more suitable for institutional traders.

The article reports a factual breakout of the BVIV–VIX spread from a defined 20.000–32.000 range and a broken downtrend, and cites Volmex founder Cole Kennelly linking the spread to relative‑value volatility trades; it also states these trades are capital‑intensive and institutionally targeted—supporting a neutral price sentiment and moderate trading impact for short‑term traders.