- Bitcoin’s failure to break $60,000 twice in two days pushed the index to its lowest since 2023
- Historical data showed that BTC could rally by 28% in a month or two
In a surprising turn of events, the Crypto Fear and Greed Index moved to the extreme fear level. At press time, the index’s reading measuring the sentiment around Bitcoin [BTC] and other cryptos was 25.
Behavior in the market is mostly emotional due to high volatility. Sometimes, market participants get greedy and do not want to miss out on price jumps. Other times, corrections force fear into the market.
The Crypto Fear and Greed Index ranges from 0 to 100. Using data from social media, trends in the market, and project dominance, values close to 100 indicate extreme greed. On the other hand, readings close to zero indicate fear.
At 25, the index represented its lowest level since September 2023. Back then, Bitcoin was valued at around $25,131 on the charts. By October of the same year though, the price had risen to $32,960.
Source: Glassnode
Like it was the other time, the drop in the index could be linked to BTC. This, because of how the price has performed within the last 48 hours.
According to AMBCrypto’s market analysis, Bitcoin attempted to rise above $60,000 on 10 July. Alas, it failed. Again, the crypto approached the key region on the 11th, but was rejected.
As a result of this, sentiment in the market changed, with participants showing a glimpse of distrust in the coin’s short-term potential. However, if we go by the Crypto Fear and Greed Index’s impact on price in 2023, Bitcoin could jump in one to two months.
Furthermore, if the pattern rhymes, BTC could see a 28% hike within the aforementioned period. At press time, Bitcoin’s price was $56,948. If the price rises by 28% between August and September, it could trade at $72,893.
Despite the historical analysis and bullish potential, BTC holders need to be wary though.
This, because of the actions taken by the German government. Over the last few weeks, the country has been distributing billions of Bitcoin. This was also one of the reasons the Crypto Fear and Greed Index hit extreme fear levels. In fact, on 12 July, the government sold another round worth $154.60 million.
Source: Lookonchain
Should this continue into the next month, BTC could find it challenging to reach the predicted level above. However, if the selling stops, Bitcoin might attempt revisiting $70,000 in a few weeks from now.
Read Bitcoin [BTC] Price Prediction 2024-2025
That being said, according to analyst Michaël van de Poppe, Bitcoin is doing well to absorb the sell pressure. In his post on X, he noted,
“It’s incredible that this sell pressure has been absorbed and that Bitcoin’s price is around $60K.”
- Bitcoin’s failure to break $60,000 twice in two days pushed the index to its lowest since 2023
- Historical data showed that BTC could rally by 28% in a month or two
In a surprising turn of events, the Crypto Fear and Greed Index moved to the extreme fear level. At press time, the index’s reading measuring the sentiment around Bitcoin [BTC] and other cryptos was 25.
Behavior in the market is mostly emotional due to high volatility. Sometimes, market participants get greedy and do not want to miss out on price jumps. Other times, corrections force fear into the market.
The Crypto Fear and Greed Index ranges from 0 to 100. Using data from social media, trends in the market, and project dominance, values close to 100 indicate extreme greed. On the other hand, readings close to zero indicate fear.
At 25, the index represented its lowest level since September 2023. Back then, Bitcoin was valued at around $25,131 on the charts. By October of the same year though, the price had risen to $32,960.
Source: Glassnode
Like it was the other time, the drop in the index could be linked to BTC. This, because of how the price has performed within the last 48 hours.
According to AMBCrypto’s market analysis, Bitcoin attempted to rise above $60,000 on 10 July. Alas, it failed. Again, the crypto approached the key region on the 11th, but was rejected.
As a result of this, sentiment in the market changed, with participants showing a glimpse of distrust in the coin’s short-term potential. However, if we go by the Crypto Fear and Greed Index’s impact on price in 2023, Bitcoin could jump in one to two months.
Furthermore, if the pattern rhymes, BTC could see a 28% hike within the aforementioned period. At press time, Bitcoin’s price was $56,948. If the price rises by 28% between August and September, it could trade at $72,893.
Despite the historical analysis and bullish potential, BTC holders need to be wary though.
This, because of the actions taken by the German government. Over the last few weeks, the country has been distributing billions of Bitcoin. This was also one of the reasons the Crypto Fear and Greed Index hit extreme fear levels. In fact, on 12 July, the government sold another round worth $154.60 million.
Source: Lookonchain
Should this continue into the next month, BTC could find it challenging to reach the predicted level above. However, if the selling stops, Bitcoin might attempt revisiting $70,000 in a few weeks from now.
Read Bitcoin [BTC] Price Prediction 2024-2025
That being said, according to analyst Michaël van de Poppe, Bitcoin is doing well to absorb the sell pressure. In his post on X, he noted,
“It’s incredible that this sell pressure has been absorbed and that Bitcoin’s price is around $60K.”
where can i get generic clomiphene pill where can i buy generic clomid buy generic clomid no prescription how to get generic clomiphene tablets can you get cheap clomid pills where to buy generic clomid price can i get clomid online
I am in fact happy to glance at this blog posts which consists of tons of profitable facts, thanks representing providing such data.
This is the kind of post I find helpful.
order azithromycin generic – buy generic flagyl buy cheap generic metronidazole
order rybelsus 14 mg generic – oral semaglutide 14mg cyproheptadine pills
buy generic domperidone 10mg – flexeril uk flexeril brand
amoxicillin tablet – order valsartan for sale ipratropium 100 mcg generic
augmentin 625mg ca – https://atbioinfo.com/ buy ampicillin pills
esomeprazole oral – https://anexamate.com/ order nexium 20mg online cheap
buy medex without prescription – coumamide order cozaar 50mg online
purchase mobic online cheap – https://moboxsin.com/ order meloxicam 15mg online cheap
deltasone 20mg cost – https://apreplson.com/ prednisone 20mg usa
best otc ed pills – https://fastedtotake.com/ buy cheap ed pills
amoxicillin medication – amoxicillin canada cheap amoxil pills
buy diflucan 200mg generic – https://gpdifluca.com/ buy forcan online cheap
escitalopram pill – https://escitapro.com/# escitalopram 10mg drug
cenforce order online – https://cenforcers.com/ cenforce ca
tadalafil best price 20 mg – https://ciltadgn.com/# cialis and adderall
cialis for daily use dosage – canadian pharmacy cialis 20mg cialis from mexico
ranitidine 300mg us – https://aranitidine.com/# ranitidine 150mg usa
sildenafil 100mg price at walmart – site viagra 50mg price
The sagacity in this piece is exceptional. https://gnolvade.com/es/provigil-espana-comprar/
Good blog you procure here.. It’s obdurate to assign high status article like yours these days. I justifiably comprehend individuals like you! Take vigilance!! zithromax 500mg without prescription
This is the compassionate of scribble literary works I positively appreciate. https://ursxdol.com/clomid-for-sale-50-mg/
Thanks an eye to sharing. It’s acme quality. order atenolol without prescription
More posts like this would force the blogosphere more useful. viagra homme prix
This is the tolerant of delivery I unearth helpful. https://ondactone.com/product/domperidone/
Good blog you have here.. It’s intricate to on strong quality script like yours these days. I justifiably respect individuals like you! Rent vigilance!!
buy toradol paypal
Thanks towards putting this up. It’s understandably done. http://forum.ttpforum.de/member.php?action=profile&uid=425020
brand forxiga 10mg – site forxiga drug
orlistat online buy – janozin.com buy generic orlistat