Bitcoin At $87K While Fear Grips Crypto Markets
Bitcoin (CRYPTO: BTC) is trading around $87k, and the mood in crypto markets? It’s dark, like 2022 bear market dark. The top cryptocurrency’s down about 2% in the last 48 hours and can’t seem to hold steady above $80,000, a level that’s got traders pretty worried.
Investor Confidence Collapses To Historic Depths
Sentiment indicators are screaming red across the board. The Crypto Fear and Greed Index suggests extreme panic mode. We haven’t seen fear this intense since late 2022, when crypto was in full meltdown.
10x Research’s sentiment tracker tells a similar story. It’s dropped below 5 points, with the three-week average at just 10%. Here’s the thing: historically, when fear gets this bad, prices tend to bottom out soon after. But predicting exactly when? That’s the tough part, especially with all the macro uncertainty floating around.
Both retail traders and big institutions are nervous right now. Volatility’s still high, sellers keep hammering prices, and nobody seems willing to step in and buy the dip yet.
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Bitcoin’s given back about 30% from its October high near $126,000. Most of this year’s gains? Gone. The …
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