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

Por ZyCrypto - hai 1 ano - Tempo de lectura: 2 minutos

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

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

O índice de medo e avaricia úsase para avaliar o sentimento dos investidores cara ao mercado, con 0 indicando medo extremo e 100 indicando cobiza extrema.

Mergullando 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.

Esta caída a 28 dólares prodúcese poucos días despois de que a Reserva Federal revelase, a través do seu presidente, Jerome Powell, que elevaría o seu tipo de interese de referencia un 0.5 por cento, a subida máis alta en 22 anos, para combater a crecente inflación que alcanzou máximo histórico do 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.

Todo o mercado criptográfico diminuíu un 5.28% nas últimas 24 horas

Ademais de 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%.

Todo o mercado criptográfico diminuíu nas últimas 24 horas un 6% ata unha capitalización de mercado combinada de 1.2 billóns de dólares, mentres que o volume do mercado aumentou un 3.18% ata un valor de 102 millóns de dólares, o que indica que os fondos están a saír do mercado criptográfico.

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.

Orixe orixinal: ZyCrypto