The value of Bitcoin put in one other fascinating efficiency over the previous week, as the worldwide uncertainty continued within the broader monetary markets. Nonetheless, the $74,000 resistance degree proved to be unyielding but once more, because the premier cryptocurrency made a contemporary play for it because the weekend approached.
The investor sentiment within the Bitcoin market appears to be worsening with time, whereas the bullish momentum seems to be waning after the newest rejection. Actually, latest on-chain information exhibits that the sentiment is at a low not seen in practically 4 years.
BTC Concern & Greed Index Falls To 10% For First Time Since 2022
In a March 13 publish on the X platform, crypto analyst Axel Adler Jr revealed that the Bitcoin Concern and Greed Index has continued its descent over the previous few weeks. The Concern and Greed Index is an on-chain indicator that measures sentiment within the crypto market and displays some facet of investor conduct.
Sometimes, the index ranges from 0 to 100 (typically in share), with larger values typically signaling excessive greed and overheating market circumstances. In the meantime, a decrease worth of the Bitcoin Concern & Greed Index suggests excessive concern and skepticism amongst traders.
In keeping with CryptoQuant’s information shared by Adler Jr, the 30-day common Concern and Greed Index has fallen to 10%, a degree of pessimism seen through the market-wide crash led to by the COVID-19 pandemic and the Terra (LUNA) ecosystem collapse. As noticed within the chart beneath, the metric has been on a downturn since reaching a peak above the seventy fifth percentile in late 2025.
Adler Jr. wrote on X:
Sentiment is now deeply compressed. For market construction to stabilize, Bitcoin probably must reclaim larger worth ranges.
Whereas an upturn in worth efficiency is perhaps essential in bettering the market sentiment, the present degree of the Concern and Greed Index would possibly present perception into Bitcoin’s near-term trajectory. From a historic perspective, the premier cryptocurrency has typically proven the tendency to bounce again when the market sentiment is at its lowest.
In the course of the COVID-19 crash, the Bitcoin worth rebounded from round $5,000 to a brand new all-time excessive after the Concern and Greed Index fell to round 10%. In 2022, although, the worth of BTC didn’t attain a backside till after the collapse of the FTX trade (a number of months after the index reached the ten% degree).
In essence, the Concern and Greed Index being this low might suggest that the market chief has both reached or is close to its backside.
Bitcoin Worth At A Look
As of this writing, the worth of BTC stands at round $71,262, reflecting an over 1% bounce prior to now 24 hours.
