The Last Dip Signal Seen in the FTX Crash in Bitcoin Rekindled! - Analyst Pointed to May for ATH!

Bitcoin and altcoins continue to exhibit highly volatile movements, while the US Dollar Index (DXY) experienced one of its sharpest declines.

According to market analyst James Van Straten's shared data, the weekly decline of DXY exceeded -4 deviation. The analyst pointed out that this sharp decline in DXY could be a bottom signal for Bitcoin, which has only occurred three times in Bitcoin's history as a rare event.

According to the analyst, the weekly decline in DXY exceeding -4 deviation was seen in history during Bitcoin's FTX collapse reaching the bottom of $15,500 in November 2022; when Bitcoin fell below $5,000 in March 2020, and in the bear market of 2015.

According to the analyst, historical data shows that every time DXY has experienced a drop larger than -4 standard deviations, it has coincided with a Bitcoin bottom and has been followed by significant price increases.

Outside of Straten, Real Vision analyst Jamie Coutts also noted that significant declines in DXY are strongly correlated with the upward trends in Bitcoin.

An analyst stating that the sharp drop in DXY is historically associated with Bitcoin bottom levels said that there were eight examples where DXY fell by more than 2.5% in three days since 2013, and in each case, BTC prices rose in the following 90 days.

Coutts stated that during this period, Bitcoin provided an average return of 37% with a 100% success rate, which corresponds to approximately 123,000 dollars worth of BTC.

The analyst also pointed out that DXY experienced its 4th largest 3-day drop since 2013, indicating that this could be the bottom for Bitcoin and expecting a new ATH by May.

"The stage is set to reach a new all-time high for Bitcoin by May."