Bitcoin Sentiment Wavers As Crypto Fear and Greed Index in ‘Extreme Fear’ Territory

Par ZyCrypto - il y a 1 an - Temps de lecture : 2 minutes

Bitcoin Sentiment Wavers As Crypto Fear and Greed Index in ‘Extreme Fear’ Territory

La Bitcoin Fear and Greed Index (FGI) has dropped to a value of 11, indicating “extreme fear” amidst a sharp plummet in the crypto market.

L'indice de peur et de cupidité est utilisé pour évaluer le sentiment des investisseurs envers le marché, 0 indiquant une peur extrême et 100 indiquant une cupidité extrême.

Plonger Bitcoin

The past few weeks have not been the most favorable for Bitcoin as it has been struggling to steady itself in the $40k zone for a while now. In the past 7 days, the asset has plummeted by 20 percent, dropping from its $38.9k peak last Monday to a current value of $28.9k as of press time.

This has apparently triggered a panic in the crypto space with several investors capitulating to salvage whatever they can from their funds, leading to the FGI value of 11. The last time the FGI hit this value was January 23 this year when Bitcoin closed the previous day with a value of $35k. The values were 28 (fear) and 30 (fear) last week and last month respectively.

Cette baisse à 28 0.5 dollars intervient quelques jours après que la Réserve fédérale a révélé, via son président Jerome Powell, qu'elle augmenterait son taux d'intérêt de référence de 22 point de pourcentage - la plus forte hausse en 8.5 ans - pour lutter contre l'inflation croissante qui a atteint un record historique de XNUMX %.

Early June last year was the last time Bitcoin dipped to $33k after weeks of attempts to bounce back from a downtrend that began the previous month. The asset went on to reach a $29,800 price towards the close of the month before rising to a peak of $67k in early November of last year.

L'ensemble du marché de la cryptographie a baissé de 5.28% au cours des dernières 24 heures

En plus des Bitcoin, most other digital assets including Ethereum, BNB, LUNA, and SOL have respectively seen some sharp declines in the past seven days, with Ethereum down by 26%, BNB by 25%, LUNA by a massive 99%, and SOL seeing a decline of 41%.

L'ensemble du marché de la cryptographie a diminué de 24 % au cours des dernières 6 heures pour atteindre une capitalisation boursière combinée de 1.2 billion de dollars, tandis que le volume du marché a augmenté de 3.18 % pour atteindre une valeur de 102 milliards de dollars, ce qui indique que les fonds sortent du marché de la cryptographie.

Market tracking platform Glassnode reveals that the number of Bitcoin whales appears to be decreasing. Chris Kline, co-founder, and chief operating officer of Bitcoin IRA, said he believes one of the causes of the crash in the crypto market is the fact that investors are looking for “safer grounds” as they weigh other investing options amidst the interest rate hike by the Federal Reserve.

Source primaire: ZyCrypto