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Bitcoin fights to hold $29K as fear of regulation and Terra’s UST implosion hit crypto hard

Bitcoin leverage traders show little interest in going long even as BTC price flirts with new lows below $29,000.
Bitcoin (BTC) price initially bounced from its recent low at $29,000 but the overall market sentiment after a 25% price drop in five days is still largely negative. Currently, the crypto “Fear and Greed Index,” which uses volatility, volume, social metrics, Bitcoin dominance and Google trends data, has plunged to its lowest level since March 2020 and at the moment, there appears to be little protecting the market against further downside.Crypto “Fear and Greed index”. Source: Alternative.meRegulation continues to weigh down the markets Regulation is still the main threat weighing on markets and it’s clear that investors are taking a risk-off approach to high volatility assets. Earlier this week, during a hearing of the Senate Banking Committee, United States Secretary of the Treasury Janet Yellen called for a r

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