{"id":646372,"date":"2024-10-06T02:00:42","date_gmt":"2024-10-06T02:00:42","guid":{"rendered":"https:\/\/www.uniquehot.com\/?p=646372"},"modified":"2024-10-05T09:51:52","modified_gmt":"2024-10-05T09:51:52","slug":"bitcoin-investors-show-fear-could-a-price-bottom-be-imminent","status":"publish","type":"post","link":"https:\/\/www.uniquehot.com\/news\/bitcoin\/bitcoin-investors-show-fear-could-a-price-bottom-be-imminent\/","title":{"rendered":"Bitcoin Investors Show Fear – Could A Price Bottom Be Imminent?"},"content":{"rendered":"

In contrast to popular bullish sentiments, Bitcoin began October on a bearish note<\/a>, recording a price decline of over 7% in the first three days of the month. However, while the BTC market experienced an uptick on Friday as data from the US Labor Department indicated incoming rate cuts, investors have generally retained a cautionary approach.
\n<\/span><\/p>\n

Related Reading: Analyst Says Bitcoin Crash Might Not Be Over, Why $60,365 Is Important<\/a><\/div>\n

Bitcoin Fear And Greed Index Touches 37 As Investors Become Uncertain<\/strong><\/h2>\n

In a Quicktake post<\/a> on CryptoQuant, an analyst with username maartunn shared that the Bitcoin Fear and Greed Index currently signals fear following the asset\u2019s recent price slump\u00a0<\/span><\/p>\n

The Fear and Greed Index generally measures the emotions, moods, and behaviors of the crypto market as well as predicts potential trends based on investor sentiment. The index operates on a 0-100 scale, where values above 50 indicate greed, with anything over 74 representing extreme greed, while values below 50 signal fear, and under 24, extreme fear.<\/span><\/p>\n

According to maartunn, the Fear and Greed Index is presently at 37, indicating that many investors are cautious about adding the leading cryptocurrency to their portfolio. In particular, the analyst notes that each time the Fear and Greed Index reached the fear level since 2023, Bitcoin\u2019s price has formed a bottom, i.e. reached the lowest point during a price decline, and is set for price reversal.\u00a0<\/span><\/p>\n

Notably, Bitcoin already showed an upward movement on Friday after starting October with a price decline. However, it cannot be said that the price bottom has now occurred as Bitcoin\u2019s daily chart shows the asset is still far above its next significant support level following months of consolidation between $55,000 – 70,000.<\/span><\/p>\n

Although, if the premier cryptocurrency has bottomed out, it could be heading for a price breakout in line with popular expectations for a bullish \u201cuptober\u201d<\/a>. For context, October has proven to be the most frequent bullish month for Bitcoin resulting in an average gain of 22.90% in the last 11 years.<\/p>\n

\"Bitcoin\"
Source: CryptoQuant<\/figcaption><\/figure>\n

\u00a0<\/span>Related Reading: Bitcoin Price Dip Explained: Key Causes And Where To Expect A Bounce Back To $70,000<\/a><\/p>\n

Dominant Activity Of Stablecoins Supports Fear And Uncertainty Among Investors<\/strong><\/h2>\n

In addition to the Bitcoin Fear and Greed Index of 37, the crypto market has also experienced an increase in market activity of stablecoins namely the Tether USD (USDT) and USD Coin (USDC).\u00a0<\/span><\/p>\n

This development indicates that investors are opting for less volatile assets than risky coins such as Bitcoin, which is often due to uncertainty and fear of impending price crash. <\/span>CryptoQuant analyst BaroVirtual has attributed<\/a> this fear to several factors including weak retail market participation, rising geopolitical tensions in the Middle East, as well as the SEC\u2019s hesitation to launch a Spot Ethereum ETF Options.<\/span><\/p>\n

At the time of writing, Bitcoin continues to exchange hands at 62,071 following a 2.17% gain in the last day. Meanwhile, the token\u2019s daily trading volume is down 17.91% and valued at $29.71 billion.<\/p>\n

\"Bitcoin\"
BTC trading at $61,901 on the daily trading chart |\u00a0 Source: BTCUSDT chart on Tradingview.com<\/figcaption><\/figure>\n
Featured image from The Motley Fool, chart from Tradingview<\/em><\/div>\n","protected":false},"excerpt":{"rendered":"

In contrast to popular bullish sentiments, Bitcoin began October on a bearish note, recording a price decline of over 7% in the first three days of the month. However, while the BTC market experienced an uptick on Friday as data from the US Labor Department indicated incoming rate cuts, investors have generally retained a cautionary approach. Related Reading: Analyst Says Bitcoin Crash Might Not Be Over, Why $60,365 Is Important Bitcoin Fear And Greed Index Touches 37 As Investors Become Uncertain In a Quicktake post on CryptoQuant, an analyst with username maartunn shared that the Bitcoin Fear and Greed Index currently signals fear following the asset\u2019s recent price slump\u00a0 The Fear and Greed Index generally measures the emotions, moods, and behaviors of the crypto market as well as predicts potential trends based on investor sentiment. The index operates on a 0-100 scale, where values above 50 indicate greed, with anything over 74 representing extreme greed, while values below 50 signal fear, and under 24, extreme fear. According to maartunn, the Fear and Greed Index is presently at 37, indicating that many investors are cautious about adding the leading cryptocurrency to their portfolio. In particular, the analyst notes that each time the Fear and Greed Index reached the fear level since 2023, Bitcoin\u2019s price has formed a bottom, i.e. reached the lowest point during a price decline, and is set for price reversal.\u00a0 Notably, Bitcoin already showed an upward movement on Friday after starting October with a price decline. However, it cannot be said that the price bottom has now occurred as Bitcoin\u2019s daily chart shows the asset is still far above its next significant support level following months of consolidation between $55,000 – 70,000. Although, if the premier cryptocurrency has bottomed out, it could be heading for a price breakout in line with popular expectations for a bullish \u201cuptober\u201d. For context, October has proven to be the most frequent bullish month for Bitcoin resulting in an average gain of 22.90% in the last 11 years. \u00a0Related Reading: Bitcoin Price Dip Explained: Key Causes And Where To Expect A Bounce Back To $70,000 Dominant Activity Of Stablecoins Supports Fear And Uncertainty Among Investors In addition to the Bitcoin Fear and Greed Index of 37, the crypto market has also experienced an increase in market activity of stablecoins namely the Tether USD (USDT) and USD Coin (USDC).\u00a0 This development indicates that investors are opting for less volatile assets than risky coins such as Bitcoin, which is often due to uncertainty and fear of impending price crash. CryptoQuant analyst BaroVirtual has attributed this fear to several factors including weak retail market participation, rising geopolitical tensions in the Middle East, as well as the SEC\u2019s hesitation to launch a Spot Ethereum ETF Options. At the time of writing, Bitcoin continues to exchange hands at 62,071 following a 2.17% gain in the last day. Meanwhile, the token\u2019s daily trading volume is down 17.91% and valued at $29.71 billion. Featured image from The Motley Fool, chart from Tradingview<\/p>\n","protected":false},"author":581,"featured_media":646375,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651],"tags":[428,85117,1144,78790,61534,87108],"class_list":["post-646372","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","tag-bitcoin","tag-bitcoin-fear-and-greed-index","tag-btcusd","tag-btcusdt","tag-fear-and-greed-index","tag-uptober"],"acf":[],"yoast_head":"\nBitcoin Investors Show Fear, Could A Price Bottom Be Imminent?<\/title>\n<meta name=\"description\" content=\"While the Bitcoin market experienced an uptick on Friday, investors have generally retained a cautionary approach.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" 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While he started out writing on several subjects, Semilore soon found a knack for cracking down on the complexities and intricacies in the intriguing world of blockchains and cryptocurrency. Semilore is drawn to the efficiency of digital assets in terms of storing, and transferring value. He is a staunch advocate for the adoption of cryptocurrency as he believes it can improve the digitalization and transparency of the existing financial systems. In two years of active crypto writing, Semilore has covered multiple aspects of the digital asset space including blockchains, decentralized finance (DeFi), staking, non-fungible tokens (NFT), regulations and network upgrades among others. In his early years, Semilore honed his skills as a content writer, curating educational articles that catered to a wide audience. His pieces were particularly valuable for individuals new to the crypto space, offering insightful explanations that demystified the world of digital currencies. Semilore also curated pieces for veteran crypto users ensuring they were up to date with the latest blockchains, decentralized applications and network updates. This foundation in educational writing has continued to inform his work, ensuring that his current work remains accessible, accurate and informative. Currently at NewsBTC, Semilore is dedicated to reporting the latest news on cryptocurrency price action, on-chain developments and whale activity. He also covers the latest token analysis and price predictions by top market experts thus providing readers with potentially insightful and actionable information. Through his meticulous research and engaging writing style, Semilore strives to establish himself as a trusted source in the crypto journalism field to inform and educate his audience on the latest trends and developments in the rapidly evolving world of digital assets. Outside his work, Semilore possesses other passions like all individuals. He is a big music fan with an interest in almost every genre. He can be described as a \u201cmusic nomad\u201d always ready to listen to new artists and explore new trends. Semilore Faleti is also a strong advocate for social justice, preaching fairness, inclusivity, and equity. He actively promotes the engagement of issues centred around systemic inequalities and all forms of discrimination. He also promotes political participation by all persons at all levels. He believes active contribution to governmental systems and policies is the fastest and most effective way to bring about permanent positive change in any society. In conclusion, Semilore Faleti exemplifies the convergence of expertise, passion, and advocacy in the world of crypto journalism. He is a rare individual whose work in documenting the evolution of cryptocurrency will remain relevant for years to come. His dedication to demystifying digital assets and advocating for their adoption, combined with his commitment to social justice and political engagement, positions him as a dynamic and influential voice in the industry. Whether through his meticulous reporting at NewsBTC or his fervent promotion of fairness and equity, Semilore continues to inform, educate, and inspire his audience, striving for a more transparent and inclusive financial future.","sameAs":["https:\/\/www.linkedin.com\/in\/semilore-faleti-7a9046218","https:\/\/x.com\/https:\/\/twitter.com\/SemiloreFaleti"],"url":"https:\/\/www.uniquehot.com\/author\/semilorefaleti\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Investors Show Fear – Could A Price Bottom Be Imminent?","url":"http:\/\/www.uniquehot.com\/news\/bitcoin\/bitcoin-investors-show-fear-could-a-price-bottom-be-imminent\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/www.uniquehot.com\/news\/bitcoin\/bitcoin-investors-show-fear-could-a-price-bottom-be-imminent\/"},"thumbnailUrl":"https:\/\/www.uniquehot.com\/wp-content\/uploads\/2024\/10\/person-watching-market-crash.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/www.uniquehot.com\/wp-content\/uploads\/2024\/10\/person-watching-market-crash.jpg?fit=2121%2C1414"},"articleSection":"Bitcoin","author":[{"@type":"Person","name":"Semilore Faleti"}],"creator":["Semilore Faleti"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/www.uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin fear and greed index","btcusd","btcusdt","fear and greed index","uptober"],"dateCreated":"2024-10-06T02:00:42Z","datePublished":"2024-10-06T02:00:42Z","dateModified":"2024-10-06T02:00:42Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Investors Show Fear – Could A Price Bottom Be Imminent?\",\"url\":\"http:\\\/\\\/www.uniquehot.com\\\/news\\\/bitcoin\\\/bitcoin-investors-show-fear-could-a-price-bottom-be-imminent\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/www.uniquehot.com\\\/news\\\/bitcoin\\\/bitcoin-investors-show-fear-could-a-price-bottom-be-imminent\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/www.uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/10\\\/person-watching-market-crash.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/www.uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/10\\\/person-watching-market-crash.jpg?fit=2121%2C1414\"},\"articleSection\":\"Bitcoin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Semilore Faleti\"}],\"creator\":[\"Semilore Faleti\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/www.uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin fear and greed index\",\"btcusd\",\"btcusdt\",\"fear and greed index\",\"uptober\"],\"dateCreated\":\"2024-10-06T02:00:42Z\",\"datePublished\":\"2024-10-06T02:00:42Z\",\"dateModified\":\"2024-10-06T02:00:42Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/www.uniquehot.com\/wp-content\/uploads\/2024\/10\/person-watching-market-crash.jpg?fit=2121%2C1414","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.uniquehot.com\/wp-json\/wp\/v2\/posts\/646372","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.uniquehot.com\/wp-json\/wp\/v2\/users\/581"}],"replies":[{"embeddable":true,"href":"https:\/\/www.uniquehot.com\/wp-json\/wp\/v2\/comments?post=646372"}],"version-history":[{"count":6,"href":"https:\/\/www.uniquehot.com\/wp-json\/wp\/v2\/posts\/646372\/revisions"}],"predecessor-version":[{"id":646399,"href":"https:\/\/www.uniquehot.com\/wp-json\/wp\/v2\/posts\/646372\/revisions\/646399"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.uniquehot.com\/wp-json\/wp\/v2\/media\/646375"}],"wp:attachment":[{"href":"https:\/\/www.uniquehot.com\/wp-json\/wp\/v2\/media?parent=646372"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.uniquehot.com\/wp-json\/wp\/v2\/categories?post=646372"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.uniquehot.com\/wp-json\/wp\/v2\/tags?post=646372"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}