Bitcoin Fear and Greed Index hits lowest level since January 2023

Lower levels on the Fear and Greed Index indicate negative investor sentiment, while higher levels indicate a fear of missing out.

The Bitcoin Fear and Greed Index, a metric tracking relative market sentiment, has hit the lowest levels since January 2023, dropping to 27 on July 9,, according to data from Glassnode.

For reference, January 2023 was only two months following the collapse of the crypto exchange FTX. At the beginning of that month, the Fear and Greed Index stood at 26, while Bitcoin (BTC) was trading at around $16,500. However, by the end of the month, Bitcoin experienced a price rally and was trading around $22,000, data from TradingView shows.

The current market panic is fueled by the German government dumping its BTC holdings and Mt. Gox repaying creditors, bringing the price of BTC down from around $63,000 at the end of June to lows of around $53,570 on July 5.

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Lower levels on the Fear and Greed Index indicate negative investor sentiment, while higher levels indicate a fear of missing out.
The Bitcoin Fear and Greed Index, a metric tracking relative market sentiment, has hit the lowest levels since January 2023, dropping to 27 on July 9,, according to data from Glassnode.For reference, January 2023 was only two months following the collapse of the crypto exchange FTX. At the beginning of that month, the Fear and Greed Index stood at 26, while Bitcoin (BTC) was trading at around $16,500. However, by the end of the month, Bitcoin experienced a price rally and was trading around $22,000, data from TradingView shows.The current market panic is fueled by the German government dumping its BTC holdings and Mt. Gox repaying creditors, bringing the price of BTC down from around $63,000 at the end of June to lows of around $53,570 on July 5.Read more