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Bitcoin Fear and Greed Index Deep in ‘Extreme Fear’ as BTC Dumped to $34K

With bitcoin’s price continuing to lose value, the popular Fear and Greed Index has dropped into an extreme fear territory once again. In fact, the metric hasn’t been in such a poor state since late January, when the asset’s price dropped to $33,000.
Fear Takes Over
Ever since the end of March, the landscape around the primary cryptocurrency has been rather bearish. Bitcoin was close to $50,000 at that point but failed and started to lose value gradually. In April alone, BTC dumped by more than $10,000 and closed the month below $40,000.
May is not going well either so far. Bitcoin jumped to $40,000 following the latest FOMC meeting, in which the Fed said it will raise interest rates by 50 basis points instead of 75, but that was short-lived.
Soon after, the cryptocurrency plummeted below $36,000, and the situation worsened in the past 24 hours when it dumped to its lowest price point since late January of around $34,000.
Somewhat expectedly, this violent price crash resulted in

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We współpracy z: https://cryptopotato.com/bitcoin-fear-and-greed-index-deep-in-extreme-fear-as-btc-dumped-to-34k/

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