The Bitcoin Fear & Greed Index has dropped to 27, its lowest level since January 2023. At that time, BTC was valued at $18,150, and the total cryptocurrency market cap was $800 billion. Since then, BTC has increased by over 300%, demonstrating significant growth.
In this cycle, a Fear & Greed Index close to 30 has twice indicated a price bottom, providing valuable insights for investors. The last occurrence saw BTC rise dramatically from $28k in October 2023 to $74k in March 2024, showcasing the potential for substantial gains during periods of heightened fear.
