Crypto Market Sentiment Drops to Extreme Fear - BitcoinEthereumNews.com
Arman Shirinyan Cryptocurrency market becomes fearful as Bitcoin shows weakness, falling below $40,000 Nilalaman Bitcoin plunge causes panic Long-term investors remain calm Ayon sa Kahalili.ako cryptocurrency sentiment “Fear and Greed” nagtuturo, the digital assets market has entered the “extreme fear” state. Bitcoin plunge causes panic The main reason behind the strong change in the indicators value is caused by the most recent Bitcoin drop below $40,000, which was considered impossible amid the cryptocurrency market rally we saw in March. Source: Kahalili.ako As Bitcoin started slowly losing a large part of its value, short-term traders started to actively get rid of their holdings, which created even more selling pressure on the digital gold and caused panic in the cryptocurrency community. Since the indicator includes social sentiment data, it affected the value shown by it greatly. Long-term investors remain calm According to data provided by IntoTheBlock, long-term investors are remaining calm and buying the dip as their holdings increased for 2 million BTC in recent weeks. On the other hand, traders and short-term holders are actively exiting the market, awaiting a further drop in the mid-term. Alternative.me‘s indicator includes data like volatility and market momentum, which allows it to reflect both social and technical data. According to the indicator’s official page, it measures the current