Crypto Market Dives into ‘Extreme Fear’ as Bitcoin Slips to $53,000
#CryptoNewss #bitcoin☀️ #fear&greedindex #FearIndex
The cryptocurrency market is gripped by "extreme fear" as Bitcoin's price plunges to $53,500, causing the total market capitalization to fall below $2 trillion.
The Crypto Fear & Greed Index dropped to 22, signaling a bearish sentiment. Concerns about a September correction loom large, with former Bit MEX CEO Arthur Hayes predicting a potential dip below $50,000.
Despite this, analysts like Meta Shackle remain optimistic, citing a bullish cup and handle pattern forming on Bitcoin's chart.
Meanwhile, Morgan Stanley has increased its Bitcoin exposure, allocating 2.1% to BlackRock’s Bitcoin ETF.
