Greed

Bitcoin ETF

Bitcoin

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The sharp drop in the price of Bitcoin has led to a significant deterioration in sentiment among cryptocurrency traders. 
The Crypto Fear and Greed Index, which reflects the overall emotional background of the crypto market, dropped to 43,&nbsp;the lowest level since last October. 
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 <img loading="lazy" decoding="async" width="1024" height="458" src="https://crypto.news/app/uploads/2024/05/Screenshot-2024-05-02-at-17.18.40-1024x458.png" alt="Fear and Greed Index falls back to fear for 1st time since October - 24"> 
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The&nbsp;indicator has moved from the&nbsp;greed&nbsp;zone, where it was just a week ago, to the&nbsp;fear&nbsp;zone, signaling growing investor anxiety.&nbsp;Fear&nbsp;is indicated on the scale by a value from 26 to 46. At these levels, bearish sentiment&nbsp;is assumed&nbsp;to prevail. 
Continued capital outflows from U.S. spot <a href="https://crypto.news/tag/etf/" target="_blank" rel="">ETFs</a> are weighing on the market. The net outflow of funds from the spot Bitcoin ETF for May 1 <a href="https://crypto.news/spot-bitcoin-etfs-reach-record-563m-outflows/" target="_blank" rel="">amounted</a> to a record $564 million — the highest amount since the products launched in January. 
However, Santiment analysts <a href="https://insights.santiment.net/read/april-recap-report-a-month-of-correction-trade-imperfection-and-market-misdirection-7782" target="_blank" rel="">remain</a> optimistic about the future of BTC’s price. Experts noted&nbsp;that the market correction was predictable, given the growth in Bitcoin capitalization before the halving. Following the halving at the end of April, investors were buying on rumors and selling on news. 
According to analysts, growth in the <a href="https://crypto.news/tag/bitcoin/" target="_blank" rel="">Bitcoin</a> market in October 2023 and early spring 2024&nbsp;was caused&nbsp;by high expectations from the halving.&nbsp;However, those who bought BTC at the end of March, when the price was at its all-time high, have been left at a loss. 
 You might also like: <a href="https://crypto.news/bitcoin-falls-below-57k-market-analysts-doubt-quick-recovery/" rel=""> Bitcoin falls below $57k, market analysts doubt quick recovery </a>

Fear and Greed Index falls back to fear for 1st time since October

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