Bitcoin (BTC) Rallies Despite the Fear & Greed Index at a 2022 Low

Key Insights:

  • On Monday, Bitcoin (BTC) fell by 4.66% to end a 3-day winning streak and reverse a 4.15% gain from Sunday.
  • Monday’s pullback left the Bitcoin Fear & Greed Index at 8/100, the lowest level since a March 14, 2020 low of 8/100.
  • Bitcoin (BTC) technical indicators flash red, with bitcoin sitting below the 50-day EMA.

Bitcoin (BTC) slid by 4.66% on Monday. Reversing a 4.15% gain from Sunday, bitcoin ended the day at $29,839.

A choppy session saw bitcoin rise to an early high of $31,296 before sliding to a day low of $29,104.

While resistance at $29,000 proved key to preventing heavier losses, the Fear & Greed Index sends a bearish signal.

The Bitcoin Fear & Greed Index Falls to a 2022 Low of 8/100

This morning, the Bitcoin Fear & Greed Index fell from 10/100 to 8/100, its lowest level since March 14, 2020, when the Index also stood at 8/100.

Fear & Greed 170522

Monday’s BTC loss came as investors across the global equity markets and the crypto market responded to dire economic data from China.

The weak stats coupled with the threat of a recession left the NASDAQ 100 down 1.20%. Fed Chair Powell’s assurances on the rate hike front have delivered support. There…

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