Greed

Bitcoin ETF

Bitcoin

<p><span style="background-color: var(--bs-body-bg); color: var(--bs-body-color); font-family: var(--bs-body-font-family); font-size: var(--bs-body-font-size); font-weight: var(--bs-body-font-weight); text-align: var(--bs-body-text-align);">The </span>Crypto Fear and Greed Index<span style="background-color: var(--bs-body-bg); color: var(--bs-body-color); font-family: var(--bs-body-font-family); font-size: var(--bs-body-font-size); font-weight: var(--bs-body-font-weight); text-align: var(--bs-body-text-align);"> plunged to its lowest point since January 2023 as market sentiment soured and Bitcoin struggled to keep the $55k support.</span></p>
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      <p><span style="font-weight: 400;">Investors panic sold their crypto holdings in the past 24 hours, with </span><a style="background-color: var(--bs-body-bg); font-family: var(--bs-body-font-family); font-size: var(--bs-body-font-size); font-weight: var(--bs-body-font-weight); text-align: var(--bs-body-text-align);" href="https://insidebitcoins.com/news/bitcoin-price-prediction-btc-briefly-falls-below-58k-on-coinbase-as-investors-flock-to-this-learn-to-earn-crypto-with-a-716-apy" rel="noopener noreferrer nofollow">Bitcoin</a><span style="font-weight: 400;"> briefly falling below $55K. Although the crypto king was able to recover to trade at $55,739.37 as of 3:35 a.m. EST, it remained in the red by more than 2%.</span></p>
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<p><img decoding="async" src="https://image.cnbcfm.com/api/v1/image/107167409-1671184641667-gettyimages-1234311542-sindeyev-notitle210729_npFdq.jpeg?v=1720104626&amp;w=1600&amp;h=900" alt="Bitcoin (BTC) price slides to 2-month low after Fed meeting minutes"></p>
<h2 id="span-style-font-weight-400-spot-bitcoin-etf-investors-unfazed-as-crypto-fear-and-greed-index-plunges-to-28-span"><span style="font-weight: 400;">Spot Bitcoin ETF Investors Unfazed As Crypto Fear And Greed Index Plunges To 28</span></h2>
<p><span style="font-weight: 400;">BTC reached an all-time high of $73,750.07 in March, which led to the Fear and Greed Index presenting a sell signal. This signal has since been validated, with the </span><a href="https://coinmarketcap.com/currencies/bitcoin/" rel="noopener noreferrer nofollow"><span style="font-weight: 400;">Bitcoin price</span></a><span style="font-weight: 400;"> down more than 24% from its new peak.&nbsp;</span></p>
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 <p lang="en" dir="ltr">Based on trading activity it looks like <a href="https://twitter.com/hashtag/BitcoinETF?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#BitcoinETF</a> buyers are still HODLing. So far there's no sign of panic. It will likely take a much larger drop in <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> before they finally capitulate. That may come as soon as next week, especially after another big selloff this weekend.</p>
 <p>— Peter Schiff (@PeterSchiff) <a href="https://twitter.com/PeterSchiff/status/1809329677191782871?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 5, 2024</a></p>
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<p><span style="font-weight: 400;">The drop in BTC’s price seems to have been identified as a buying opportunity by spot Bitcoin ETF (exchange-traded fund) investors. Peter Schiff, the Chief Economist and Global Strategist at Euro Pacific Asset Management, said in a July 5 post on X that trading activity suggests “Bitcoin ETF buyers are still HODLing.”&nbsp;</span></p>
<p><span style="font-weight: 400;">Bloomberg ETF analyst James Seyffart also commented on recent ETF trading activity in a July 6 X post. “Bitcoin ETFs doing the exact opposite of “dumping” in the first ~20% drawdown since launch,” Seyffart said while quoting a post by Bitwise CEO Hunter Horsley.</span></p>
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 <p lang="en" dir="ltr">Bitcoin ETFs doing the exact opposite of “dumping” in the first ~20% drawdown since launch <a href="https://t.co/bh4dyKzOft" rel="noopener noreferrer nofollow">https://t.co/bh4dyKzOft</a></p>
 <p>— James Seyffart (@JSeyff) <a href="https://twitter.com/JSeyff/status/1809432981573865565?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 6, 2024</a></p>
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<h2 id="span-style-font-weight-400-mt-gox-repayments-could-lead-to-btc-dropping-to-50k-span"><span style="font-weight: 400;">Mt. Gox Repayments Could Lead To BTC Dropping To $50K</span></h2>
<p><span style="font-weight: 400;">One key factor behind the extreme fear in the crypto market might be the anticipated unloading of seized BTC by German and U.S. Governments. Additionally, investors are pre-emptively selling their holdings to avoid getting caught in the potential sell off by </span><a href="https://insidebitcoins.com/news/mt-gox-moves-2-7-billion-bitcoin-as-selloff-fears-trigger-crypto-crash" rel="noopener noreferrer nofollow"><span style="font-weight: 400;">Mt. Gox</span></a><span style="font-weight: 400;"> investors, SynFutures CEO Rachel Lin said in a market update.</span></p>
<p><a href="https://insidebitcoins.com/news/xrp-price-prediction-as-10x-research-says-the-era-of-100x-returns-might-be-behind-us-this-world-first-ar-vr-crypto-presale-hurtles-towards-6-million" rel="noopener noreferrer nofollow"><span style="font-weight: 400;">10x Research</span></a><span style="font-weight: 400;"> founder Markus Thielen believes the Mt. Gox repayments could lead to a lot of selling pressure being exerted on BTC. He went on to predict that the leading crypto could drop to $50K as a result.</span></p>
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 <p><span style="font-size: calc(1.3rem + 0.6vw); background-color: var(--bs-body-bg); color: var(--bs-body-color); font-family: var(--bs-body-font-family); text-align: var(--bs-body-text-align);">Related Articles:</span></p>
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Crypto Fear And Greed Index Plummets To Lowest Level Since January 2023 As BTC Slumps To $55K

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Inside Bitcoins

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