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Bitcoin fear and greed index

Bitcoin fear and greed index remains green despite red candles

Bitcoin fear and greed index remains green despite red candles as Bitcoin goes under correction after briefly rising to $47,400. The fear and greed index score is 52 which is neutral compared to the last month’s 22, extreme fear.

Bitcoin fear and greed index

Bitcoin currently trades at $45,900, over 1.5% down in the last 24 years. Bitcoin is currently knocking at local support and if it breaks downwards, the next support level will be near $43,000. Bulls were trying hard to close the weekly candle green but it ended in a week’s bearish red candle and the descent still continues. Bitcoin is facing a local resistance near $48,000 and then there is resistance at $49,600 before it breaks out to the $50,000 mark.

The on-chain bitcoin data shows that addresses holding Bitcoins over 1,000 have declined. This means that Bitcoin whales have been actively booking profits and turning the market bearish.

About mnmansha

MN Mansha is a cryptocurrency expert, trader, and content writer with extensive experience in covering everything related to digital assets — from price analysis to Blockchain disruption. Mansha authored 100+ stories for NewsBSC.com and other fintech media outlets and he's actively writing more every day. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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