Bitcoin’s fear and greed index has tumbled to “extreme fear” for the first time since January 2023, as BTC struggles to reclaim a crucial price level.
The Crypto Fear and Greed Index — an indicator that tracks market sentiment toward Bitcoin and crypto — has fallen to “extreme fear,” its lowest level since January last year.
The tumbling index score came as the price of Bitcoin failed to break above the $60,000 mark for the second time in the last 48 hours.
In a July 11 post to X, crypto and forex trader Justin Bennett told his 111,000 followers that Bitcoin’s price level had rejected $60,000 “yet again,” noting the formation of a potential “rising wedge,” which suggests further downside in the coming days.
