Bitcoin Reclaims $114,000, But Why Does The Fear & Greed Index Show ‘Fear’?

Bitcoin (CRYPTO: BTC) is hovering around $114,000 as anxious market participants are trying to figure out in which direction the next move will be.

What Happened: The CoinMarketCap Crypto Fear & Greed Index currently stands at 39, a notable drop from a “neutral” 47 one week ago in the “fear’ zone.

Pseudonymous trader CrediBULL Crypto noted that throughout the current bull cycle, a consistent pattern has emerged: impulsive waves rarely reach extreme fear levels, while corrective waves often linger in “extreme fear” (<25).

Currently, with the index in “fear,” historical trends suggest a near-term bottom is forming, typically preceding …

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