BTC/USD Daily Chart
When Bitcoin (BTC) price dipped below $29,000, the investor sentiment changed to that of a cautious approach. On January 22nd, the Crypto Fear and Greed Index plummeted to 40, shifting market sentiment away from “Extreme Greed” to “Fear.” The index fell to this low level for the first time since October 3, 2020, when Bitcoin was trading below 11k.
The Crypto Fear and Greed Index is an indicator of the two main emotions that affect how much investors are willing to buy a cryptocurrency like Bitcoin, with extreme fear levels signaling a high measure of uncertainty among investors.
Courtesy: Alternative.me
Image Credit: Alternative.me, Shutterstock
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