Usually, Bitcoin transaction fees fluctuate. However, the metric notably increases when the market is in bull season., market participation increased. Thus, this increased demand meant that validating new blocks would have taken more computing power.
While SEC’s regulatory actions impacted Bitcoin exchange fees, another key area that could have affected the hike was the BitcoinHistorically, unfavorable development in the market leads investors to take rash decisions — sometimes out of fear. Other times, greed. Here, the SEC lawsuit sent panic across the ecosystem.
Consequently, this impacted the fear and greed index, which was around 52 before the regulator’s revelation. At the time of writing, the metric fell closer to the fear region at 47.Extreme fear here suggested that most investors were worried, and this could offer a buying opportunity. But when it’s in the greed region, it suggested that the market could be due for a correction.
However, at 47, the fear and greed index looked rather neutral. Hence, the value meant that the overall sentiment toward the coin was relativelyCoinbase and Binance have continued to feel the
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Source: CryptoAmb - 🏆 22. / 68 Read more »
Source: CryptoAmb - 🏆 22. / 68 Read more »
Source: CryptoAmb - 🏆 22. / 68 Read more »