The Bearish Cocktail Is Complete
What a week for Bitcoin! We dropped every single day, and 60k didn’t hold this time. At the lows, BTC fell to around 59.1k before bouncing back. Currently, we’re sitting a little above 60k.
Fear levels are now as low as they were during the FTX collapse in 2022. The Fear & Greed Index is sitting at 11 — firmly in extreme fear territory. ETF outflows continue, and even Saylor sold 32 BTC earlier this week. On top of that, the macro backdrop remains shaky, with the Iran conflict ongoing, persistent inflation concerns, and no rate cuts in sight.
All of this has created the bearish cocktail we’re being served right now. Despite that, I remain bullish. My approach has always been anticyclical, which means times like these are when I look to accumulate. “Be greedy when others are fearful” is the mindset I’m sticking with. That’s why I’ve placed a limit order at 58k in case Bitcoin sees another leg down.
What about you? Are you buying the dip, waiting on the sidelines, or expecting further downside?
