The luster appears to have faded from Bitcoin’s crown. After a stellar run culminating in a record-breaking price in late March, the world’s leading cryptocurrency has experienced a sharp correction, plunging investor sentiment into the abyss. This sudden shift can be attributed to a confluence of factors, with the “Fear and Greed Index” playing a fascinating role in this rollercoaster ride, alongside a record exodus from a key investment vehicle.
Bitcoin And The Fear Gauge: A Delicate Dance
The Crypto Fear and Greed Index is a sentiment analysis tool that attempts to capture the overall emotional temperature of the cryptocurrency market. It operates on a scale of 0 to 100, with 0 signifying “Extreme Fear” and 100 representing “Extreme Greed.” This psychological barometer plays a surprisingly significant role in Bitcoin’s price movements.
During Bitcoin’s ascent to its peak, the Fear and Greed Index hovered comfortably in the “Greed” zone. This ins
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