Bitcoin’s price hovers below $83,000 amid extreme market fear, with analysts suggesting a potential near-term floor. Despite a recent dip, some believe this could signal a buying opportunity, while macroeconomic uncertainties and proposed tariffs contribute to the market’s decline. The S&P 500 has also seen a notable drop, raising concerns about Bitcoin’s future trajectory.
about Bitcoin price approaches potential bottom amid extreme market fearBen Simpson
0 posts last weekBitcoin struggles for stability as ETF outflows reach record levels
Bitcoin has faced significant pressure, dropping 12.48% from February 24 to 27, with spot ETFs experiencing outflows totaling $3.4 billion for the month. The Crypto Fear & Greed Index has reached an extreme fear level of 10, suggesting potential buying opportunities, though analysts advise caution as key indicators remain above historical reversal levels.
about Bitcoin struggles for stability as ETF outflows reach record levelsCrypto Fear Index Hits Lowest Level Since Major Market Collapses
The Crypto Fear & Greed Index has plunged to a score of 10, indicating “Extreme Fear,” as Bitcoin fell below $85,000, reminiscent of the market turmoil seen during the collapses of Celsius, Terra, and Three Arrows Capital in 2022. Analysts suggest that this sentiment may present a buying opportunity, despite ongoing macroeconomic uncertainties and rising global liquidity levels. March is anticipated to be a pivotal month for the cryptocurrency market.
about Crypto Fear Index Hits Lowest Level Since Major Market Collapses