Journalist
Posted:
- Investor sentiment reached a low of 3 years ‘Extreme Fear’ under FTX implosion.
- Analysts had mixed views on the next price direction of BTC.
On 26 February, the sentiment of investors fell under the implosion levels after the FTX as Bitcoin [BTC] has extended its losses to $ 82k.
The crypto fear and greed index fell to a lowest point in 3 years of 10, the worst sentiment compared to ‘extreme anxiety’ of 22 seen during the FTX collapse in 2022.
Source: Alternative.me
The risk-off sentiment saw investors record $ 1 billion from BTC ETFs on Wednesday, which brought weekly outsis to $ 1.8 billion, noted Bloomberg ETF analyst Eric Balchunas.
Trump dumps markets
According to the Crypto Options Trading Desk, QCP Capital, the extra dive was accelerated by President Trump’s 25% rate for the European Union and inflation of fears. Part of his daily market update read”
“Equits, gold and BTC glide as internships get anxiety grip. Consumer sentiment is weakened (CCI missed: 98 versus 103), while inflation expectations remain high. Markets react carefully. “
Analysts warned that rates would increase inflation and prices of goods.
On Tuesday BTC fell under $ 90k After President Trump had indicated 25% rates on Canada and Mexico, with effect from March 3.
A stubborn inflation could decrease the prospects of the FED rate, and QCP Capital was projected that Friday’s PCE inflation print could offer more instructions about the direction of the next BTC.
On the other hand, other analysts, such as Ken Teng (Chicken Genius), believed That the extreme fear in the market meant a potential soil and BTC could bounce higher because it was far from the hand.
“Clear indication of the soil; Cycle is far away here, and it is the last sentence that I also look forward to the most. ”
For his part, BTC Trader Cryyp Nuevo speculated That BTC could dive to the confluence area of the CME gorge and the weekly advancing average at $ 77k $ 78k.
For each trader, these were price omissions that will be filled later or earlier.
Source: X
In the meantime, BTC bounced 5% of the low point of $ 82.2k on the press and was rated at $ 86.5k. Whether the King Coin will regain the range above $ 90k and reverses recent losses or goes deeper to $ 77k is still to be seen.