CoinVoice has recently learned that, according to CoinDesk, the Chicago Board Options Exchange Volatility Index (VIX) surged by 74% yesterday, marking the largest single-day increase since February 2018 and the second highest in history. Analysts pointed out that this surge was triggered by market panic following the Federal Reserve's 25 basis point rate cut and Powell's hawkish remarks, leading Bitcoin to briefly fall below $100,000 and the U.S. stock market to drop by about 3%.
Historical data shows that significant spikes in the VIX often signal that Bitcoin has reached a local bottom. For example, after a 116% surge in the VIX in February 2018, Bitcoin rebounded from $6,891 to over $11,000; when the VIX rose by 65% in August 2024, Bitcoin rebounded from $54,000 to $64,000. [Original link]
