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

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

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

Baintear úsáid as an Innéacs Eagla agus Saint chun meon na n-infheisteoirí i dtreo an mhargaidh a mheas, le 0 ag léiriú eagla an-mhór agus 100 ag léiriú saint an-mhór.

Titim 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.

Tagann an titim seo go $28k cúpla lá tar éis don Chúlchiste Feidearálach a nochtadh, trína chathaoirleach Jerome Powell, go mbeadh sé ag ardú a ráta úis tagarmhairc faoi 0.5 faoin gcéad pointe - an méadú is airde le 22 bliain - chun boilsciú atá ag fás a shroicheadh ​​a chomhrac. is airde lánaimseartha de 8.5%.

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.

Tháinig laghdú 5.28% ar an margadh crypto ar fad le 24 uair an chloig anuas

Chomh maith le 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%.

Tháinig laghdú 24% ar an margadh criptithe ar fad le 6 uair an chloig anuas go dtí caipín margaidh comhcheangailte de $1.2 trilliún agus mhéadaigh méid an mhargaidh 3.18% go luach $102 billiún, rud a léiríonn go bhfuil cistí ag bogadh amach as an margadh cripte.

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.

Foinse bunaidh: ZyCrypto