The post Crypto Market Plunges into Extreme Fear: Is It Time to Sell Bitcoin? appeared on BitcoinEthereumNews.com.

Market sentiment for crypto is almost at an all-time low. Fear is running through the minds of investors as Bitcoin (BTC) sits on the edge of the precipice. If Bitcoin does make the plunge down to $73,000 it could all be over. Is now the time to sell and get out of the crypto market completely, or could this even be the time to buy? Extreme fear across all markets Source: Alternative.me The Fear and Greed Index is very near the absolute bottom, registering extreme fear for the crypto market. If one takes into account that the same is true for the traditional markets, it can be said that assets are really at rock bottom. Strong selling continues The U.S. Spot Bitcoin ETFs coughed up another big net outflow for Wednesday, as 8.51K BTC left the system. This was added to the huge 10.25K BTC sale on Tuesday, and 5.37K BTC on Monday, all of which more than cancelled out the 20K BTC purchase by Strategy last week. All this said, the traditional markets have not lost any major levels. In fact, the S&P 500 hit the bottom of its 2-year long ascending channel and bounced. The Nasdaq is also holding up well above its more than two year trendline. Granted there is some bearish divergence in both, but it looks as though there could be room for more upside over the course of the rest of this year. Back to Bitcoin, with sentiment so low, and the price on the brink of the air gap that stretches from $86,000 down to $73,000, could running into the burning building and buying now pay off? A regained level, or confirmation of the loss? Source: TradingView The 4-hour time frame for $BTC shows how the price fell through the ascending trendline, but…

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Filed under: News - @ March 1, 2025 7:25 am