The Crypto Fear & Greed Index, a metric for gauging sentiments in the cryptocurrency market, has plunged to depths not seen since October 2024. As Bitcoin’s price decreased 13.7% in the last 12 days, the index fell to 65, indicating that the market is still greedy but cooling.
Bitcoin, currently priced at roughly $93,000, has sparked increased anticipation of additional falls, with dealers warning of an approaching market slump. Previously, the indicator remained over 70 in November and December, peaking at 94 on November 22 as optimism soared following the US presidential election.
The trajectory of Bitcoin continues to divide market analysts. Markus Thielen of 10x Research forecasts increasing volatility, while veteran trader Peter Brandt believes the cryptocurrency is going through a series of shifting phases, from surge to slump and final return.
Regardless of recent problems, Bitcoin’s long-term success remains unparalleled. It continues to outperform traditional assets by a significant margin, cementing its status as the best-performing asset of the decade.
Article 2: Bitcoin Price Drop Affects Mining Stocks.Excerpt:Bitcoin’s slide to $93,000 has resulted in huge drops in leading mining stocks. While the retail mood remains cautious, the market conditions and this year’s halving event are placing additional pressure on mining businesses.
Bitcoin’s price drop to $93,000 over the weekend has impacted the shares of major mining businesses, highlighting the cryptocurrency’s ongoing struggles as the year concludes. The loss comes after Bitcoin failed to recover from its record high of $108,000, with analysts warning of a possible collapse below $92,000, which may bring the price to $85,000.
The shares of big miners began the week on a gloomy note. Marathon Digital Holdings (MARA) fell roughly 3% on Monday, following a 4.5% decrease on Friday. Despite Bitcoin’s tripling in value this year, MARA’s stock is still down roughly 20%, pushed by lower mining results following the halving.
Riot Platforms (RIOT) saw the highest loss among its rivals, with shares falling roughly 5.9% on Monday, following a similar drop late last week. Retail opinion toward the stock remains adverse, with little activity on investor platforms.
Meanwhile, Canadian miner Hut 8 Corp performed slightly better, despite a 4.4% decrease on Monday and a 6.57% dip on Friday. Its stock has fared well year to date, rising 77%, but it falls short of Bitcoin’s 120% increase in 2024.
Despite market pressures and uncertainties, Bitcoin miners remain optimistic about a potential revival, fueled by forthcoming legislative developments and the cryptocurrency’s long-term growth prospects.
