The post Dogecoin, Ripple Plunge 10% as Sentiment Index Falls Below 2023 Lows appeared on BitcoinEthereumNews.com.

A crypto market sell-off extended into its second week as bitcoin (BTC) prices stooped to nearly $80,000 late Sunday, triggering a fresh decline in major tokens and altcoins. Dogecoin (DOGE) and Cardano’s ADA led losses with a nearly 10% slump over the past 24 hours, data shows, with XRP falling more than 7%. BNB Chain’s BNB, ether (ETH) and tron’s TRX) fell 5%, while BTC lost 4%. This has sent the well-followed crypto fear and green index to a multi-year low reading of 17 — which indicates ‘extreme fear’ — in its lowest level since mid-2023. The index measures investor emotions and ranges from 0 (lowest sentiment) to 100 (highest sentiment), helping identify whether investors are too scared (potential buying opportunity) or too greedy (possible market correction). It is based on price volatility, momentum, social media sentiment, Google trends data, and bitcoin’s overall market share. It tends to act as a contrarian indicator in the short term. Major tokens have fully pared all gains made after President Donald Trump announced a strategic crypto reserve in the U.S. earlier this month, sending tokens XRP, Solana’s SOL, and ADA higher by as much as 60% in days following. Traders expected windfall plans of buying pressure from the U.S. for majors, but hopes were doused as Trump repurposed previously seized BTC holdings as a reserve and said non-BTC seized assets would be considered a ‘stockpile’ of tokens. Then, an anticipated White House Crypto Summit on Mar.7 ended in a “nothingburger” without the expected bold announcements. The summit resulted in a framework for stablecoin legislation by August and a promise of lighter regulation, but these outcomes did not stimulate the market as anticipated. Losses were magnified as global markets took a hit amid an ongoing tariff war sparked by Trump and other world leaders.…

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Filed under: News - @ March 10, 2025 8:25 am