Could this volatile move in bonds lead to a market crash?

I’m honestly not sure what to think of this chart and it is concerning me.

I was playing around with TLT and MOVE (a kind VIX for bonds) and I noticed that multiplying them together created these extended spikes that have correlated with market crashes in the past.

We only have the two crashes to go buy, so this method hasn’t been tested enough to be that reliable, but the way that it has broke out this week has me concerned that something really big and bad is around the corner.

I thought that maybe the market was already crashing in the past as these were spiking, but that isn’t true: SPY was just starting to make a down trend both times, and likely most thought at the time that it was just a normal pullback in SPY.

One thing I will be watching out for is to go long on the market if that resistance is tapped and also get out of my TLT.
I generally have a feeling when looking at this though that they have completely broke the market now (it if wasn't already broken enough), and the wheels are set in motion for shit to hit the fan some day in the future.

Here’s a pic too, because I don’t like how the interactive chart gets squished sometimes: