Key Points
- Crypto Fear and Greed Index dropped to 29
- Bitcoin fell to around $73,708 at one point over the weekend.
- Ethereum falls to around $2,120
After Bitcoin and Ethereum experienced significant declines over the weekend, the cryptocurrency market started the new week under pressure. Due to regulatory uncertainties, security concerns, and a new wave of selling, investor sentiment remains in a "fear" zone.
Crypto Fear and Greed Index显示出焦虑加剧
On Monday, Crypto Fear, and, and Greed Index scored 29 out of 100, indicating that the market was in a “fear” state. In contrast, the previous day it was 28 points, a week ago it was 37 points, and a month ago it was 64 points, at which time market sentiment was clearly in the “greed” region.
Crypto Fear and Greed Index
Bitcoin falls below $74,000
Bitcoin struggled to maintain its upward momentum throughout the weekend. On Saturday, it traded around $75,700, but selling pressure intensified on Sunday. By late Sunday, the cryptocurrency fell to around $73,708, hitting its lowest level since August.
Bitcoin later rebounded to around $75,000 earlier on Monday, but this rally did not erase the overall weak trend.
The range of $73,700 to $74,000 is now an important area that requires close attention. If it can continue to rise above $76,000, the short-term sentiment may improve; however, if it falls below the weekend low, Bitcoin could face greater downward momentum.
Ethereum saw an even deeper decline over the weekend.
Ethereum experienced an even greater decline. The token traded near $2,240 on Saturday but faced significant pressure on Sunday. During the selling spree, Ethereum fell by about 5% to $2,223.
Ethereum performed even weaker, indicating that investors are particularly reluctant to continue holding exposure to riskier crypto assets.
The range of $2,100 to $2,120 is now an important short-term support area. If it can rebound above $2,240, it may indicate early signs that selling pressure is easing.
What will happen to the crypto market next?
As the Fear and Greed Index remains below 30, traders will be watching to see if Bitcoin can stabilize above its weekend lows, as well as whether Ethereum can recover lost ground.
Before the buying momentum strengthens, the cryptocurrency market may still experience further fluctuations.
Danielle Walgenbach
Danielle is a journalist who covers cryptocurrency and financial markets. With over four years of reporting experience, she is adept at breaking down complex financial and economic topics into clear, well-researched reports.
