Bitcoin price bounces 4% as data gives ‘89% chance’ stocks bottom is in

Quick Summary:

Source: Cointelegraph/TradingViewKobeissi and others referenced unusually high readings from the VIX volatility index while making the case for a sustained recovery.“$VIX has only been higher 11% of the time, going back to 1990,” network economist Timothy Peterson, creator of several Bitcoin price forecasting tools, continued.“Put another way, there is an 89% chance that today was the bottom.”VIX volatility index.

Related: Biggest red weekly candle ever: 5 things to know in Bitcoin this week“$BTC just had a bullish divergence on the 4H timeframe,” trader Cas Abbe said while analyzing relative strength index (RSI) signals. “I'm not saying this is the reversal but a short-term pump looks imminent now.”BTC/USD 4-hour chart with RSI data.

Commenting, trading resource The Kobeissi Letter suggested that markets had entered an unsustainable downtrend.“Are we overdue for a massive short squeeze? ” it queried in a thread on X, noting risk-asset sentiment in “extreme fear” territory.“Even bears who are calling for a prolonged bear market would need to see some relief rallies.

Read Quick SummarySave Time

or

Article Details

Author / Journalist: Cointelegraph by William Suberg

Category: Crypto

Markets: United States

Topics: Price Time Nasdaq Btc/usd Index Markets Relief Chart Trading Bitcoin Futures

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-03-11 @ 10:26:48 (1 days ago)

News Timezone: GMT -5:00

News Source URL: cointelegraph.com

Language: English

Article Length: 457 words

Reading Time: 3 minutes read

Sentences: 21 lines

Sentence Length: 22 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Coin Telegraph

News ID: 26907413

View Article Analysis

About Coin Telegraph

Main Topics: Crypto

Official Website: cointelegraph.com

Update Frequency: 571 posts per day

Year Established: 2013

Headquarters: United States

News Last Updated: 8 hours ago

Coverage Areas: United States

Ownership: Independent Company

Publication Timezone: GMT -5:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #11

Publisher Details

Frequently Asked Questions