Fun

Bitcoin sentiment index drops to ‘fear’ — its lowest score in 18 months

News Feed - 2024-06-25 10:06:28

Brayden Lindrea7 hours agoBitcoin sentiment index drops to ‘fear’ — its lowest score in 18 monthsThe weakened market sentiment comes amid fears of a potential $8.5 billion market dump by Mt. Gox and recent mass outflows from United States spot Bitcoin ETFs.4397 Total views10 Total sharesListen to article 0:00NewsOwn this piece of crypto historyCollect this article as NFTJoin us on social networksThe Crypto Fear and Greed Index, which measures market sentiment for Bitcoin and the broader cryptocurrency industry, has reached its lowest score in nearly 18 months.


The index fell 21 points on June 24, reaching into the “Fear” zone — marking one of the biggest day-to-day drops in recent years.


It was last in the Fear zone (a score between 24 and 50) around seven weeks ago, May 3, but it hasn’t hit a score below 30 since Jan. 11, 2023, when Bitcoin was trading at $17,200 only two months after the collapse of crypto exchange FTX.


This time last week, the score was 74 in the “Greed” zone.Crypto Fear & Greed Index score. Source: Alternative.me


Bitcoin is currently trading at $60,300 after falling to a seven-week low on June 24.


Negative sentiment has come amid outflows from spot Bitcoin exchange-traded funds — over $1 billion across the last 10 trading days, news that Mt. Gox could be preparing to sell $8.5 billion worth of Bitcoin to its creditors, while Germany started selling some of its Bitcoin reserves too.


However, an executive at cryptocurrency investment firm Galaxy Digital believes the market may be slightly overreacting to the Mt. Gox concerns.Source:Samson Mow


Bitcoin miners have been selling off more Bitcoin than usual amid a tumbling network hashrate, which may have also contributed to weakening market sentiment.


Related:Can $60K BTC price support hold? 5 things to know in Bitcoin this week


The Crypto Fear and Greed Index factors in market volatility (25%), trading volume (25%), Bitcoin’s dominance (10%) and trends (10%). It used to factor in surveys (15%), however that metric is currently paused.Change in Crypto Fear & Greed Index score over the last 12 months. Source: Alternative.me


The score has mostly been trending downward since it notched a score of 90 “Extreme Greed” on March 5, when Bitcoin surpassed its previous all-time high price of $69,000 set back in November 2021.


Magazine:‘Bitcoin Layer 2s’ aren’t really L2s at all: Here’s why that matters# Bitcoin# Bitcoin Price# Adoption# Markets# Market AnalysisAdd reaction

News Feed

2023’s Bitcoin Obituaries: Bitcoin Defies 6 Death Predictions With 80% Price Increase Since End of 2022
2023’s Bitcoin Obituaries: Bitcoin Defies 6 Death Predictions With 80% Price Increase Since End of 2022 It’s been more than 100 days since the end of 2022, and the price o
Proof-of-Work Proponents Question Validator Censorship as 59% of Staked Ethereum Is Held by 4 Companies
Proof-of-Work Proponents Question Validator Censorship as 59% of Staked Ethereum Is Held by 4 Companies Prior to The Merge, Ethereum used to have dozens upon dozens of mining pools
Copy Trading Platform ZuluTrade Powers SetBroker.com
Copy Trading Platform ZuluTrade Powers SetBroker.com SetBroker, an innovative Bitcoin-based copy-trading platform, announced today their successful launch. Their platform is powe
Buy Gift Cards With Crypto on BuySellVouchers Gift Card Marketplace
Buy Gift Cards With Crypto on BuySellVouchers Gift Card Marketplace press release PRESS RELEASE.The popular online gift card exchange BuySellVouchers now accepts Binance USD (BUSD)
Bank of Spain Governor Warns About Traditional Banking’s Exposure to Crypto Assets
Bank of Spain Governor Warns About Traditional Banking"s Exposure to Crypto Assets The Governor of the Bank of Spain has alerted the public about the risks mixing traditional banks
Pundit Says XRP’s Rise To $1,000 Will Happen A Lot Sooner Than Anticipated
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Russian Social Media Giant Vkontakte Launches NFT Service
Russian Social Media Giant Vkontakte Launches NFT Service Russia’s largest social network, Vkontakte, has launched a feature allowing users to upload digital collectibles to the
Twitter’s Shareholders Overwhelmingly Vote for Elon Musk to Take Over the Social Media Platform
Twitter"s Shareholders Overwhelmingly Vote for Elon Musk to Take Over the Social Media Platform Twitter’s shareholders have overwhelmingly voted for Tesla CEO Elon Musk to t
IMF urges careful design, slow introduction for Pacific Island digital currencies
Derek Andersen2 hours agoIMF urges careful design, slow introduction for Pacific Island digital currenciesThe island nations have common challenges and widely varying conditions. Just don’t use crypto, the IMF says.610
UNI, SUSHI, MKR, Defi Tokens See 24 Hour Double-Digit Gains, Defi TVL Jumps 6% in 2 Weeks
UNI, SUSHI, MKR, Defi Tokens See 24 Hour Double-Digit Gains, Defi TVL Jumps 6% in 2 Weeks While a number of popular crypto-assets like bitcoin have been consolidating, decentralize
Banks Are Cutting 75,700 Jobs Worldwide
Banks Are Cutting 75,700 Jobs Worldwide Banks worldwide have announced major job cuts this year. Globally, 75,700 jobs are reportedly being eliminated, with the most recent annou
Homeowners Can’t Pay: US Lenders Prepare for Catastrophic Real Estate Market
Homeowners Can"t Pay: US Lenders Prepare for Catastrophic Real Estate Market The coronavirus has managed to seep into every facet of the global economy and it seems nothing will