According to PANews, senior analyst James Van Straten has reported that the S&P Volatility Index has surged to its highest level since August of last year, indicating increased market uncertainty. The ratio of Bitcoin to the VIX has reached a long-term trend line at 1903. The last time this trend line was reached was during market fluctuations surrounding the unwinding of yen carry trades, when Bitcoin's price had dropped to a low of approximately $49,000. This marks the fourth instance of the ratio hitting the trend line and bottoming out. Previously, this ratio touched the trend line during the peak of the pandemic in March 2020 and for the first time in August 2015, with prices rising after both instances.