The Bitcoin market has tip-toed into “excessive concern” territory because the Federal Reserve prepares to fulfill Wednesday to resolve its subsequent transfer concerning rate of interest and quantitative easing insurance policies. BTC is buying and selling at round $48,000 on the time of writing, practically 30% under its November all-time excessive of $69,000.
The Fear and Greed Index analyzes market sentiment and emotion from completely different sources to crunch a quantity from zero to 100. The nearer the index is to its decrease certain, the extra fearful the market is in the intervening time. The inverse is true for greed, when folks start buying bitcoin out of concern of lacking out (FOMO). The metric is at present at 16, denoting excessive concern.