Physical Address
304 North Cardinal St.
Dorchester Center, MA 02124
Crypto market sentiment took a major tumble on Tuesday after Bitcoin briefly fell below $106,000 for the first time in over three weeks.
The Crypto Fear & Greed Index on Tuesday fell by half from the day before to a score of 21 out of 100, which indicates “Extreme Fear” in the crypto market.
Bitcoin (BTC) fell to a 24-hour low of $105,540 on Monday, sliding from an intraday peak of more than $109,000. It is currently down 2% on the day, recovering above $106,500, in order CoinGecko.
The crypto sentiment tracking index’s score on Tuesday is the lowest in nearly seven months, after falling to 18 out of 100 on April 9, as the broader stock and crypto markets fell in reaction to US President Donald Trump. sweeping world fares who went into action that day.
“Extreme Fear” seen when Bitcoin slides
The Crypto Fear & Greed Index last fell to the “Extreme Fear” level on October 22, hitting a score of 25 out of 100 after Bitcoin slid from over $110,000 to under $108,000.
The index fluctuated between “Extreme Fear” and “Neutral”, following the market crash on October 9-10, when Bitcoin quickly recovered from its October 6 peak of more than $126,000.
The index was last above a point of “Neutral” before the crash of the beginning of October, hit a high in the last month of 74, indicating “Greed”, on October 5.
Related: Crypto whale hitting October crash opens $55M BTC and ETH longs
Analysts have attributed Bitcoin’s current dip the reduced institutional demand and blockchain activity, as well as concerns about an increasingly hawkish Federal Reserve.
The Fed cut interest rates for the second time this year on Wednesday, but signaled that it could not do more in 2025, which caused crypto markets to fall as investors hoped for further rate cuts.
Last week, the funds traded on the Bitcoin exchange were seen net outflows of almost $800 million, with institutional purchase dipping below the daily mined supply for the first time in seven months.
Crypto bulls hope for a so-called “Moonvenber”, as Bitcoin has historically earned an average of more than 42% in November, typically the best month for growth.
Magazine: Sharplink exec shocked by level of BTC and ETH ETF hodling – Joseph Chalom
