Bitcoin Market Enters “Fear” Territory, Time To Buy The Dip?
As BTC/USD drifts below $60k, the market has begun getting fearful, indicating that a good buy opportunity might be arising.Bitcoin has entered a correction after flying past previous highs at the beginning of November. BTC is currently trading at around $58,000 — nearly 16% below its all-time high price of $69,000 registered on November 10, according to the Clark Moody Bitcoin Dashboard. The current bitcoin price dip is a below-average percent drawdown for BTC this year. Source: UTXO Management. Whenever price dips, newcomers get nervous while long-timers enjoy buying the dip....
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Crypto market sentiment has taken a dramatic turn in light of events taking place in the space. The Fear & Greed Index which tracks sentiment across a number of metrics and puts the data into four categories has shown that investor sentiment has taken another nosedive. This time, plunging the market back into the extreme fear territory, signaling the return of market sell-offs. Investors Are Losing Faith After spending a long stretch of time in the greed territory last year, the Fear & Greed Index had moved back into the fear territory following major crashes towards the end of the year.....
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Bitcoin price declines finally shake out “greed” among investors, according to the Crypto Fear & Greed Index. Bitcoin (BTC) diving nearly 20% from all-time highs has finally taken its toll on market sentiment — investors are now “afraid.”According to the Crypto Fear & Greed Index, overnight losses on Nov. 19 removed the last traces of “greed” away from traders’ minds.From “greed” to “fear” in two daysAs BTC price action headed lower this week, sentiment played catch-up as spot price contrasted with still bullish signals from markets.Derivatives traders were — and to an extent still are —....
With an average 6% loss and a 10% correction in the weekly chart for Bitcoin, Cardano (ADA), XRP, and others, the crypto market has been trading in choppy waters for the past days. The uncertainty has brought a change in the sentiment, as traders prepare for further downside. Data from Arcane Research records a flipped in the Fear and Greed Index, the indicator has quickly moved from “Greed” to “Fear” as Bitcoin and other major cryptocurrencies in the top 10 by market cap retested critical support levels. Bitcoin had a particularly bad week in terms of performance as an increase in....
Ethereum has struggled greatly during the last few weeks, losing the psychological $3,000 level and triggering what many believe to be the start of another bear run. During this time, sentiment has taken an even bigger hit, plunging so far into the negative territory that it’s sitting at levels not seen in years. Naturally, this […]