Bitcoin Fear and Greed Index Fuels Fear of BTC Price Collapse
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Contributor
Posted:
- Bitcoin is facing moderate fear; if this trend continues, short-term holders may sell to recover their investments.
- Their departure could indicate a price bottom.
Bitcoin bulls [BTC] have emerged victorious after what seems to be one of the longest periods of consolidation in history, pushing BTC past $60,000. Unfortunately, this momentum was temporary as BTC retraced back below support and was trading at approximately $59,800 at the time of writing.
As a result, market sentiment has reverted to fear as both bullish and bearish traders vie for dominance over vital support levels.
Bitcoin Fear and Greed Indicates High Fear Levels
Historically, an index reading below 20 signifies extreme fear often correlating with price bottoms. During these times, new participants flood the market seeking affordable BTC while short-term holders sell off to recover their investments.
At present, the Bitcoin market is operating under moderate fear conditions which are causing investors to be more cautious. If this pattern persists, it may heighten the chance of encountering a price bottom.
Source: Bitcoin Magazine Pro Simply stated, if this atmosphere of fear continues unabated , short-term investors might sell off en masse and further depress prices. Investors typically wait until prices hit rock bottom before making purchases. Observing Short-Term Holder activity can offer valuable insights here; panic-driven selling because of ongoing fear may lead Bitcoin’s price downward./p>
The Risks Posed by STH Exits Are Substantial
AskFX’s examination on the chart underneath tends to demonstrate that surges in negative net Short-Term Holder positions frequently denote market ceilings followed by downturns.span >
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STH exits generally occur when BTC encounters crucial resistance points , after which declines materialize that mirror their tactic of liquidating assets prior to impending price drops.
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Source: CryptoQuant Contrary to widespread notion , zones around $60k -$61k might serve more as support rather than set resistance should prevailing trends proceed .
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If momentum fails on part of bulls despite current holdings remaining steady ; levels could retract downwards towards offer potent opportunities showcasing dip buying potential once surfaces around($60k) mark again .
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• Long term holder strategies affirm most recent shifts made regarding acquiring high value holdings when confronted against anxious sentiments felt across amongst conscientious investors striving alongside staving off dumps occurred therein afterwards permitting related deflationary pressures manifesting subsequently thereafter .
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