On August 17, the cryptocurrency market has taken a downward turn, triggered by Bitcoin’s (BTC) plunge to a new low of under $28,500.
This decline coincides with a significant shift in investor sentiment, as ‘fear’ takes center stage, replacing ‘greed’ as the previously prevailing emotion.
The Crypto Fear and Greed Indicator over on CoinStats displayed that the market sentiment is currently indicated as ‘50 Fear,’ compared to ‘52 Greed’ it displayed on August 16.
Crypto Fear and Greed Indicator. Source: CoinStats
Interestingly, crypto trading volume increased during that period by more than 10% to $44.5 billion.
This bearish sentiment is reflected in the negative change in the crypto market cap, which dropped by $22 billion over the past 24 hours to $1.17 trillion, according to data retrieved by Finbold.
Total crypto market cap over the past 24 hours. Source: CoinGecko
Why is BTC down?
Unsurprisingly, the negative change in market sentiment and a drop in the
We współpracy z: https://finbold.com/crypto-market-turns-into-a-sea-of-red-as-fear-overtakes-greed/
