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The Crypto Fear and Greed Index plummeted to its lowest level since Oct. 14 after Bitcoin’s price plunged below $92K yesterday.
The Index stands at 50, signaling “Neutral” sentiment in the crypto market, after a 19-point drop over the past day.
Bitcoin Makes A Slight Recovery As Crypto Fear And Greed Index Shifts From “Greed” To “Neutral”
The recent drop in the Crypto Fear and Greed Index also marks a 24-point drop over the past 7 days, as crypto investor sentiment shifts from “Greed” to “Neutral.” After falling to a 24-hour low of $91,220.84 in the last trading session, BTC has since been able to recover to trade at $94,093.96 as of 1:45 a.m. EST.
📊 #Crypto Fear and Greed Index
🧭 Index Value : 50
😱 Sentiment : Neutral
💰 $BTC pic.twitter.com/rRbASbB0K0— Crypto with Ankit (@Cryptowithankit) January 10, 2025
Despite the recovery, the leading crypto is still down over the past 24 hours, and is more than 2% in the red on the 7-day time frame.
Bitcoin’s recent pullback comes after the US government received the greenlight to sell $6.5 billion worth of Bitcoin that was seized from darknet marketplace Silk Road.
Analysts also say that the drop in the BTC price is being triggered by growing uncertainty over how much scope the US Federal Reserve has to cut interest rates this year.
Cardano The Only Top 10 Crypto To Record A 24-hour Gain
Many other crypto majors followed BTC’s lead and suffered 24-hour losses. Only Cardano (ADA) was able to withstand the selling pressure to record a minor gain in the last day.
Altcoin leader Ethereum (ETH), remittance token XRP and leading meme coin Dogecoin (DOGE) all saw their prices retrace more than 1%. Tron (TRX), the 10th largest crypto by market cap, took the biggest hit in the top 10 list after losing over 2% in the last 24 hours.
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