The Crypto Fear and Greed Index has slipped to its lowest level since March, raising fresh concerns over investor confidence even as Bitcoin and Ethereum attempt a recovery.

Data shared by CryptoQuant analyst JA Maarturn on Sept. 29 showed sentiment falling from a neutral 40 in August to an extreme fear level of 28. The index last touched this range in March, when Bitcoin traded around $80,000.

Meanwhile, the sharp deterioration in sentiment coincided with heavy sell-offs in major assets. Both Bitcoin and Ethereum slipped below key psychological levels of $110,000 and $4,000 last week, deepening the sense of uncertainty.

Yet the retreat proved short-lived. As of press time, Bitcoin price has recovered $114,000 and Ethereum traded over $4,100, suggesting that panic selling has given way to a more balanced market.

Market bottom?

Asset manager Bitwise Go to Source to See Full Article
Author: Oluwapelumi Adejumo