The sentiment in the crypto market has dropped to its lowest level in nearly six months after US President Donald Trump announced a 100% tariff in China.
The crypto fear & greed Index.
The decline came as bitcoin (Btc) Short dip for $ 102,000 in Binance’s Perpetual Futures pair following Trump’s announcement of tariffs on Friday.
Over the past 24 hours, approximately $ 19.27 billion worth of length and short position has been lying throughout the crypto market, According to In coinglass.
The Crypto Market blinks a strong “purchase signal,” says analyst
In an X post on Friday, Bitwise European Head of Research, Andre Dragosch, Says that the intraday crypto index of the company’s intraday company “has just generated a strong contractor purchase signal.”
“The index has reached an intraday of less than -2.8 standard deviations -its lowest levels since the ‘Yen Carry Trade Unwind’ in the Tag -War of 2024,” Drogosch said.
The last time the Crypto Fear & Greed index was low was April 16, shortly after Bitcoin fell to $ 77,000 amid the uncertainty rising around trade tensions.
A few days before, on April 9, Trump announced a 90-day pause in higher Reciprocal TariffsRespect for tariffs in 10% baseline for most countries.
Earlier this week, the index was in the “greed” territory after Bitcoin reached the new high $ 125,100 on Monday.
Bitcoin’s recent highs did not lead to euphoria
However, Santiment’s analyst Brian Quinlivan Taught On Friday that recently all of Bitcoin’s time has not developed the same level of enthusiasm on social media as the previous all-time highs.
Related: Bitcoin Mayer Multiple: The BTC price can hit $ 180k before becoming ‘overbought’
“It’s like a modest, run-of-the-mill reaction from the crypto audience,” Quinlivan said in an interview with The Thinking Crypto Podcast published on YouTube on Thursday, referring to the level of bullish comments throughout social media after Bitcoin reached the new high $ 125,100 on Monday.
“Really not many,” Quinlivan said. “It’s not almost as euphoric as some of the previous ones,” he added.
Magazine: Delayed
