According to CoinDesk, the Chicago Board Options Exchange Volatility Index (VIX) surged 74% on December 18, the largest one-day gain since February 2018 and the second highest on record. The analysis pointed out that the surge was caused by the Federal Reserve's 25 basis point interest rate cut and the market panic caused by Powell's hawkish remarks, which caused Bitcoin to fall below $100,000 at one point, and US stocks fell by about 3%.
Historical data shows that a sharp rise in the VIX often indicates that Bitcoin has reached a local bottom. For example, after the VIX skyrocketed 116% in February 2018, Bitcoin rebounded from $6,891 to more than $11,000; when the VIX rose 65% in August 2024, Bitcoin rebounded from $54,000 to $64,000.
Analysts: The VIX index recorded its second largest one-day gain in history, indicating that bitcoin may have reached a local bottom
2024-12-19 12:09:54
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