{"id":28623,"date":"2024-09-06T15:30:33","date_gmt":"2024-09-06T12:30:33","guid":{"rendered":"https:\/\/coinengineer.net\/blog\/?p=28623"},"modified":"2024-09-06T12:04:37","modified_gmt":"2024-09-06T09:04:37","slug":"crypto-market-sentiment-drops-to-extreme-fear","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/crypto-market-sentiment-drops-to-extreme-fear\/","title":{"rendered":"Crypto Market Sentiment Drops to “Extreme Fear” as Bitcoin Dips Below $56K"},"content":{"rendered":"

Analysts include BitMEX<\/strong> co-founder Arthur Hayes<\/strong>, who anticipates additional drops, said the crypto market sunk into “extreme fear,” after Bitcoin’s short fall below $56,000. On a 0 to 100 scale, the Crypto worry & Greed Index came out as 22 on Sept. 6, signifying “extreme fear.” From yesterday’s score of 29, which stood for “fear,” this is a significant decline.<\/p>\n

The index dipped last time this low on Aug. 8 when it reached 20. With a 25, the index is also the first to have lately reached the “extreme fear” zone since Aug. 12. The new concern of the market corresponds with the 1.3% decline in Bitcoin over the last 24 hours, thereby reducing it to $56,400. This drop in market value of Bitcoin by $29.7 billion<\/p>\n

Hayes<\/strong> remained hopeless even if Bitcoin had somewhat rebounded to trade at $56,533. “BTC is heavy,” Hayes said in a Sept. 6 post on X, then adding, “I am shooting for below $50K this weekend. I choose a cheeky fast cut. He predicts Bitcoin to drop even further another 12% in the following days to get below $50,000.<\/p>\n

The decline in Bitcoin<\/strong> follows September 5 U.S. employment numbers falling short of projections. This has raised further doubts about the future interest rate behavior of the Federal Reserve, therefore influencing the degree of market uncertainty.<\/p>\n

Many other large currencies fell with Bitcoin as well. ETH down 2.23%; Solana (SOL) plummeted 2.82%; XRP lost 2.19%. Long positions leading the way, the market recorded $94.26 million in liquidations overall over the last 24 hours. Over 40% of the overall liquidations were Bitcoin long bets valued at $36.71 million; ETH long sales were $17.36 million.<\/p>\n

As the market attitude remains negative, traders and investors are getting ready for further turbulence even some experts predict more negative for Bitcoin in the near future.<\/p>\n

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our <\/span><\/i>Telegram, <\/span><\/i><\/a>YouTube<\/span><\/i><\/a>, and <\/span><\/i>Twitter<\/span><\/i><\/a> channels for the latest <\/span><\/i>news<\/span><\/i><\/a> and updates.<\/span><\/i><\/p>\n","protected":false},"excerpt":{"rendered":"

Analysts include BitMEX co-founder Arthur Hayes, who anticipates additional drops, said the crypto market sunk into “extreme fear,” after Bitcoin’s short fall below $56,000. On a 0 to 100 scale, the Crypto worry & Greed Index came out as 22 on Sept. 6, signifying “extreme fear.” From yesterday’s score of 29, which stood for “fear,”<\/p>\n","protected":false},"author":6,"featured_media":24299,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,657,1],"tags":[8471,61,7346],"class_list":["post-28623","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-en","category-genel","tag-arhur-hayes","tag-bitcoin","tag-crypto-fear-and-greed-index"],"yoast_head":"\nCrypto Market Sentiment Drops to "Extreme Fear" as Bitcoin Dips Below $56K - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/crypto-market-sentiment-drops-to-extreme-fear\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Crypto Market Sentiment Drops to "Extreme Fear" as Bitcoin Dips Below $56K - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"Analysts include BitMEX co-founder Arthur Hayes, who anticipates additional drops, said the crypto market sunk into “extreme fear,” after Bitcoin’s short fall below $56,000. 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