Uncertainty regarding inflation and the potential bubble of AI-related companies are causing interest rate cuts to become uncertain. All this doubt, coupled with the recent crypto market crash, has caused Bitcoin to lose support at $100,000 and now hover around $95,000, due to institutional investors leaving. Come discover more about the overall situation of the crypto market, which is experiencing a low Fear and Greed index!
I'll be much appreaciated if you Upvote, Reblogs or give any Tips ( PIZZA 🍕, PGM 🎮, LOLZ 😆, ALIVE ❤️, etc ). Thanks and have good reading! 🍀
[ENGLISH VERSION]
Crypto Market Crash
Recently, on October 10th, a crypto market crash occurred, causing a significant drop in the value of altcoins. That day saw one of the largest liquidations, exceeding $19 billion in just a few hours, causing the price of some cryptocurrencies to fluctuate greatly due to the lack of liquidity and panic in the market. On that same day, Bitcoin fell by more than $10,000, dropping from $121,000 to $110,000, with the worst impact being on altcoins, some losing 30% of their value. This brought Bitcoin's upward trend to a halt, and it has been falling steadily ever since.
Bitcoin Below $100K
Continuing in this bearish scenario, this week we had another impact on the crypto market, with Bitcoin losing the $100k support, which it had maintained for a long period (189 days), now reaching the $95,000 range. This is a significant loss because it is a strong psychological point, being a round and very representative value for the market. The reason for this drop stems from the outflow of liquidity from institutional investors who were positioned in ETFs, due to uncertainty regarding the interest rate and inflation situation in the US.
Fear & Greed Index
With all the recent events, the Fear & Greed Index has shown that the sentiment is one of extreme fear, close to the lows of this indicator. Furthermore, based on historical data, we can observe that this is something that has been maintained and worsened, because last month and last week the level was at extreme fear at 22, and now this value has decreased by another 12 points, reaching the red level of the index. This is one of the lowest levels the indicator has reached this year. This indicator is composed of 25% volatility, 25% volume, 15% social media, 10% trends, and 10% dominance.
