Extreme Fear
It’s getting really ugly, guys. Price keeps falling, and we just dipped below $66k. Bitcoin is now heading for its sixth consecutive red week.
The good news is that the Fear & Greed Index is at 16, indicating extreme fear, and the market seems pretty oversold. Let’s see if that can trigger some technical recovery.
I still think it’s rather unlikely that we’ll see prices below $58k, but it’s getting harder to stay convicted. So much bad news has piled up this week, and investors seem to be pulling the plug on risky assets.