Crypto investor sentiment hits “extreme greed” levels for first time since 2019
BTC $11,372 (-4%) • ETH $376 (-4.6%) • XRP $0.28 (-4%)
Bitcoin currently appears to be in a somewhat precarious position as it struggles to break above its $12,000 resistance, causing the entire crypto market to see some turbulence.
Today, this resistance led the crypto to see a sharp selloff that sent its price reeling down towards $11,300, where bulls eventually stepped up and slowed its descent.
Despite BTC seeing stalling momentum, the strong uptrends seen by many smaller digital assets has caused investors to grow greedy, with the crypto market’s “fear and greed index” hitting levels not seen since the market-wide rally in summer of 2019.
Some investors view this as a counter-indicator that suggests a strong “shakeout” is imminent.
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The Chinese state does not present a long-term threat to Bitcoin, a well-known developer wrote in a blog this week.
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