Crypto Crash Pushes Fear & Greed Index to Lowest Since Bitcoin Traded at $17K in Early 2023 ‼️‼️‼️‼️
The Crypto Fear & Greed Index has dropped to its lowest point since January 2023, indicating extreme fear in the market. This comes as bitcoin's price plummeted below $54,000, causing a sell-off in digital assets. Analysts warn that further downside is possible due to government sales of seized bitcoin and Mt. Gox refunds, which could push prices as low as $50,000. However, a potential interest rate cut by the Federal Reserve in September could spark a rally. The index, which measures market sentiment, had previously reached extreme greed levels in March, signaling a contrarian sell signal.