Bitcoin Traders Turn Most Fearful In 2 Months Following Crash
Summary
Crypto market sentiment has plunged into extreme fear as Bitcoin and other assets sell off. The Bitcoin Fear & Greed Index sits at 11, deep in the “extreme fear” zone, down sharply from normal fear just days ago and at its lowest level since early April. This drop reflects the recent steep price decline, though historically such fearful sentiment has sometimes coincided with market reversals. Still, the index alone does not confirm a bottom, since it previously fell to 5 in February before prices stabilized. At the same time, market demand has weakened: combined Bitcoin spot and futures demand has contracted over the past month by about 232,000 BTC. Bitcoin is trading near $67,000, more than 11% lower over the past week.
