Bitcoin Falls Into Fear Zone Amid Market Uncertainty
Key Takeaways
- The Bitcoin Fear and Greed Index has once again entered the “Fear” zone.
- Since March 28, Bitcoin has lost approximately 6.5% in value.
- Technical indicators suggest the downtrend may continue.
- The market is waiting for clearer signals of a potential recovery.
Market Sentiment: Fear Dominates Once Again
The Bitcoin Fear and Greed Index measures market sentiment based on various factors such as volatility, trading volume, and social media trends. Since the end of February, the index has remained in the “Fear” zone (below 50 points). In recent days, it has even dropped below 30 – a clear sign of growing uncertainty among investors.
This development should not be viewed in isolation. Traditional markets are also showing weakness, which is negatively impacting cryptocurrencies. The introduction of new U.S. tariffs starting April 2 has further weighed on sentiment.
Technical Analysis: Downtrend Confirmed
A look at the daily BTC/USDT chart shows that the market remains in a clear downtrend. The 20-day and 50-day moving averages (DMA) are trending downward. A new high above USD 90,000 has not been reached; instead, the price has dropped below the local support level of USD 82,500.
The On-Balance Volume (OBV) indicator, which measures the ratio of buying to selling volume, has been trending downward since February. Although the OBV briefly stabilized in March, the recent wave of selling has reversed that trend. If the OBV continues to fall, a drop in the BTC price below USD 78,000 is possible.
Long-Term Indicators: Bitcoin Remains “Undervalued”
The Bitcoin Rainbow Chart, a long-term valuation tool, currently shows Bitcoin in the “Undervalued” zone. This chart uses logarithmic growth curves to visualize over- or undervaluation. However, caution is advised: while the chart points to long-term buying opportunities, the short-term trend remains negative.
Long-term investors should not rely solely on this indicator. The combination of weak sentiment, falling prices, and technical sell signals suggests that patience is warranted.
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What Does This Mean for You as an Investor?
If you are invested in Bitcoin short-term, you should exercise caution. The market currently shows no signs of a sustainable recovery. Long-term thinkers can use the current pullback as a period of observation to plan favourable entry points – but without making premature purchases.
Wait for clear signals of a trend reversal. These include a rise above key resistance levels, a positive OBV trend, and a Fear and Greed Index above 50 points. Until then, restraint is advised.
Our Assessment
The Bitcoin market is in a critical phase. Technical indicators and sentiment data currently argue against a short-term entry. While long-term models like the Rainbow Chart point to attractive entry points, caution currently prevails.
For you as an investor, this means: watch the market closely, analyze technical signals, and avoid acting on impulse. Patience can pay off in volatile phases like this one. Anyone entering the market now should be aware of the increased risk.
Sources
- Alternative.me
- TradingView
- Blockchain Center
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