$BTC Fear Index Just Hit Levels We Haven't Seen Since 2019 and What Happens Next?
A $30,000 wipeout in under ten days will do things to market psychology. $BTC went from sitting comfortably above $90,000 on January 28th to touching $60,000 by Friday morning, and the sentiment numbers reflect exactly how much that hurt.
The Fear and Greed Index crashed to 6. For context, we haven't seen a reading that low since August 2019. The index runs from zero (pure panic) to 100 (peak euphoria), with market momentum and volatility driving about half the score. A reading of 6 basically means the market is curled up in the fetal position.
Bitcoin clawed back to around $69,000 at last check, but that bounce hasn't done much to calm nerves. The index kept sliding even as price stabilized, which tells you something about how deeply this selloff rattled people. When prices were pushing $95,000 in mid-January, nobody saw this coming. That's partly what makes it sting so much the speed of the decline left almost no room to react.
