Crypto Sentiment Index Sees Significant Drop as Bitcoin Falls Below $92K 📉
The Crypto Fear & Greed Index has plummeted to its lowest level since October, indicating a significant shift in market sentiment 🤔. This decline comes as Bitcoin's price dipped below $92,000, sparking concerns among investors 📊.
According to the index, market sentiment has fallen 19 points in a single day, marking one of the largest daily drops in recent years 📈. The index score now stands at 50 out of 100, indicating a neutral market sentiment after months of greed 📊.
Key Factors Contributing to the Decline:
- Bitcoin's Price Drop: Bitcoin's price fell below $92,000, contributing to the decline in market sentiment 📉.
- US Department of Justice's Bitcoin Sale: The US Department of Justice's plans to sell $6.5 billion worth of seized Bitcoin has also impacted market sentiment 🚨.
- Expectations of Monetary Policy Tightening: Expectations of the US Federal Reserve tightening monetary policy in 2025 have also contributed to the decline in market sentiment 📊.
Overall