Analyst: The ratio of Bitcoin to VIX has reached the long-term trend line, which may indicate that Bitcoin has bottomed out

PANews, April 13 - Senior analyst James Van Straten stated that the SP volatility index has surged to its highest level since August of last year, indicating increased market uncertainty. The ratio of Bitcoin to VIX has reached a long-term trend line at 1903; the last time it touched this trend line was around the market volatility before and after the unwinding of yen carry trades. At that time, Bitcoin's price had fallen to about $49,000. In fact, this is the fourth time this ratio has hit the trend line and bottomed out. Previously, this ratio first touched the trend line during the peak of the pandemic in March 2020 and again in August 2015; both times prices rose after hitting bottom.