2024-11-20 01:59 |
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Bitcoin’s recent tumble has sent shockwaves through the crypto market, with the Crypto Fear & Greed Index plunging to its lowest level in over two years, signaling extreme fear among investors.
As investors show mixed signals, vast amounts of dormant Bitcoin (BTC) have moved after seven years at the earliest. The initial reaction from the market was neutral before hourly trading data showed bearish sentiments and a subsequent price fall.
Bitcoin dominance continued to rise amid anticipation of an altcoin season at the start of the year. The crypto market has faced harsh headwinds in the last two weeks, reshaping whale holdings and asset dominance.
Bitcoin may have kicked off 2025 with a rebound back to $100,000, but since the release of the U. S. Federal Reserve’s December 2024 Federal Open Market Committee meeting on Jan. 8, the BTC/USD exchange rate dropped to as low as $91,220.