Bitcoin flashes signal that last delivered 100% returns
Bitcoin (BTC) has triggered a powerful technical signal that could push the leading digital currency to $170,000, based on historical returns. Specifically, BTC has flashed the ‘Ultimate VIX Bottom Signal,’ a rare occurrence that has consistently marked long-term bottoms in Bitcoin’s price cycle, according to an Analysis by prominent online cryptocurrency analyst TradingShot . This signal is based on the BTC/VIX ratio, which compares Bitcoin’s price action to the Volatility Index (VIX), which measures market fear. Bitcoin price analysis chart. Source: TradingView/TradingShot In an X post on April 15, the analyst noted that the ratio has made direct contact with a 10-year trendline of higher lows, which has acted as a launching pad for Bitcoin on multiple occasions. Similar touches occurred on August 24, 2015, March 16, 2020, and August 5, 2024. Each of these instances was followed by aggressive rallies, with the “weakest” sti...