Bitcoin Bloodbath Continues, Bears Grip Put in Extreme Fear Territory

To the sound of war drums between Russia and Ukraine, Bitcoin continued its downward spiral on Monday. Over the weekend, the digital currency par excellence lost crucial support below $40,000, and on Monday, it made a low below the next control zone at $37,000. Despite closing near $38,000, the crypto currency is swinging around the aforementioned crucial support, according to TradingView data, and threatens to extend its losses. Bitcoin’s price has dropped for six days in a row. Late last night, the pioneer fell to $36,545 — its lowest level in two weeks. This is around 45 percent lower than the all-time high set in November. BTC/USD trades at $37k. Source: TradingView Sentiment Shift Extreme Fear Experts, on the other hand, are becoming pessimistic after the digital currency fell sharply after failing to break through the $45,000 resistance barrier, and many anticipate that the $30,000 level will be reintroduced. It’s understandable that investors are concerned, given how crypto values have fluctuated in recent months. The Federal Reserve’s decision to scale back on pandemic-related economic stimulus measures, as well as mining difficulties in Kazakhstan, initially weighed on prices. However, most cryptos have struggled to regain any traction. Bitcoin Fear and greed index. The index serve as a good indicator of investor sentiment. It considers a variety of indicators, including as trade volumes, social medi...