Crypto ‘Fear and Greed Index’ Hits Record Low... How Far Will Bitcoin Fall?

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[Cartoon] “Crypto ‘Fear & Greed Index’ Hits All-Time Low… How Far Will Bitcoin Fall?”

The proprietary “Fear & Greed Index” calculated by crypto data provider Alternative fell 6 points from the previous day to 5. This marks the first time the index has reached an all-time low since August 22, 2019. The market has remained in a state of extreme fear. A reading closer to 0 indicates extreme fear in the market, while a value closer to 100 signifies extreme optimism.

Meanwhile, analysts suggest that if Bitcoin (BTC) fails to hold the $68,000 level, it could decline to the low $60,000 range. Cointelegraph noted, “The Bitcoin liquidity heatmap shows a large concentration of sell orders above $72,000, while a liquidity gap has formed between $60,500 and $66,000, meaning the price could quickly break downward through this range. Additionally, with $350 million worth of BTC long positions concentrated around $60,500, downward pressure remains in place.”

In this regard, crypto trader Husky commented, “The market structure is gradually weakening. For a short-term rebound, Bitcoin must reclaim $68,000. If it fails to break through that level, the correction could extend to $65,000. For now, BTC is likely to continue its volatility within a broad range between $60,000 and $72,000.”

*Disclaimer: This article is for investment reference only and the publisher is not responsible for any investment losses incurred based on it. The content should be interpreted solely for informational purposes.*

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