is diverging from reality as"extreme fear" still lingers, despite Bitcoin slightly recovering past $47K.
Bitcoin seems to have found stability around the $47,000 mark after shedding nearly 11% following its drop from Dec. 27 highs of $52,100, but crypto market sentiment is still in shock.According to the Crypto Fear & Greed Index, as of Dec. 30, emotions are now at their most fearful in 10 days, when Bitcoin dipped to near $45,500. The index currently sits at 22, which reflects ''extreme fear.
Cryptocurrencies were mostly lower as of press time, although market conditions have stabilized following the prior day's sell-off. Algorand, Near Protocol and Cosmos were seen posting gains at press time.Bitcoin was nearing the moving average of 200 , which might indicate that a relief rally could occur in the near term.
Bitcoin has dropped nearly 31% from its Nov. 10 all-time highs of $69,000, which is the largest drawdown since September. Typically, Bitcoin experiences sharp declines between 10% and 20% even in a bull market. Sometimes, pullbacks can extend well beyond 30%, which may take time to recover.
Only the whales know the price of BTC, and check out LDXG in the meantime;
shib
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