Analysis: Bitcoin to VIX ratio has hit a long-term trendline, which may mark a bottom for Bitcoin

Odaily News Analyst James Van Straten said the S&P Volatility Index surged to its highest level since August last year this morning, indicating increased market uncertainty. James also said that the Bitcoin-VIX ratio has hit a long-term trend line, which historically has marked the bottom of Bitcoin during major market events, followed by a price rebound.