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Bitcoin sentiment in 'wild' divergence from reality as $53K BTC triggers 'extreme fear'
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Bitcoin (BTC) has stabilized at around $55,000 after dropping by $6,000 in a single day — but crypto market sentiment is still in shock.
According to the Crypto Fear & Greed Index, as of Nov. 27, emotions are now at the most fearful since late September.
Fear & Greed, which takes a basket of factors to compute a standardized sentiment score for crypto markets from 1-100, currently sits at 21.
Friday took its toll on the metric, the score more than halving in 24 hours from its previous position of 47.
Those two readings correspond to sentiment going from "neutral" to "extreme fear" — missing out the "fear" zone altogether.
While an expected reaction, the upheaval apparent the emotional state of market participants is becoming a source of
Read more on cointelegraph.comAbout this in other media
Bitcoin could 'drive people nuts' for months with $53K BTC price ceiling — analyst cointelegraph.com /2 years ago
The bigger picture: What does El Salvador’s Bitcoin city mean for the global crypto market? economictimes.indiatimes.com /2 years ago
Over 10,000 Bitcoin sold in panic selling bout, but investor confidence undeterred ambcrypto.com /2 years ago
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