Tony Severino warned that the ratio of bitcoin to the volatility index (VIX) is not a sign of an upward market and that bitcoin is probably still in a downward position. In contrast, analysts such as Saeed believe the recent correction was natural and the overall trend remains upward.
Tony Severino, a technical analyst, has warned that the bitcoin/VIX index is not bullish, contrary to what some market participants think. He stressed that current data indicate that bitcoin is in a downward market situation.
What does the bitcoin/VIX index analysis say?
In a post published on the social network "x" (X), Severino stated that contrary to what some influencers in the cryptocurrency market claim, the bitcoin/VIX index has no upward signs. Referring to the technical analysis of the index, he said that the current situation is usually seen in the downward market periods of bitcoin.
However, Severino noted that the current month is not yet over and that it is possible that these indicators will change direction and continue to rise.
Severino has previously raised several reasons why he no longer has an upward view of bitcoin and other digital assets. He pointed to the Bitcoin chart at the time, which, according to Elliott Wave Theory and other technical indicators, showed that the cryptocurrency had reached its price ceiling in this market cycle.
Different views on bitcoin market analysis
While Severino is talking about the state of bitcoin( BTC 84,859 ) Warns that some other cryptocurrency market analysts, such as Saeed, have a more optimistic view. According to Saeed, the recent correction is actually a healthy price correction, and the overall trend of bitcoin continues to rise. He stressed that the 85,000 level is a key range that Bitcoin must break to reach new price peaks.
From a macroeconomic perspective, too, the current situation benefits bitcoin. The latest inflation data from the Consumer Price Index (CPI) and the producer price index (PPI) have been released below expectations, raising hopes for a lower interest rate by the Federal Reserve.
According to reports, Susan Collins, the head of the Boston Federal Reserve, also stressed that the bank is ready to step in to stabilize the market if necessary.
Also, given the continuation of US President Donald Trump's tariff policies, the US central bank may be forced to act early, which will benefit bitcoin and other digital assets, as it leads to increased liquidity in the market.
Upward technical analysis for bitcoin
In another post on the X Network, a cryptocurrency analyst named Titan of Crypto, announced that bitcoin is forming an inverse Head-and-Shoulders pattern. Of course, he stressed that at the moment, the pattern is still in the verification stage. If the pattern is completed, bitcoin may grow to 125,000 this year, setting a new historical record.
Meanwhile, another analyst, rekt Capital, has also noted that the Relative Strength Index (RSI) is forming a higher low, while the price is recording a lower low. He added that in previous cycles, bitcoin has experienced such upward divergences several times, which have eventually led to price jumps. According to him, these signs could mean that bitcoin is once again ready for an upward leap.
At the time of hours(accordingtoCoinMarketCap data).
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