The price of Bitcoin only recovered more than $ 92,000 after a few days of excitement, though a sentimental tracker in the crypto market shows investors are still careful.
Bitcoin (Btc) traded at $ 92,170, which jumped 5.7% in the past 24 hours, According to In CoinMarketCap data. Despite the price of Bitcoin, the Crypto Fear & Greed Indextracking the general sentiment in the market, remains in “extreme fear” at a score of 25, which increases only 5 points at the same time.
Crypto sentiment to “intense fear”
The price of the spike marks an important range for some entrepreneurs, who believe it is necessary for further confirmation. MN Trading Founder Michaël Van de Poppe Says In a post of March 5 X that “important resistance” was $ 91,500.
“Usually, if that flip, we are back in the scope, and we will go to the other side of the range, which is a new high time,” Van de Poppe said. The The current all-time high for Bitcoin is $ 109,000which it was tapped before President Donald Trump’s inauguration on January 20
Bitcoin trades at $ 92,170 at the time of publication. Source: CoinMarketCap
Other entrepreneurs are confused. “No one has the idea of what’s going on,” pseudonymous crypto businessman Mandrik Says.
Market participants have mixed -all -day views in the direction of Bitcoin
Some say that the upcoming US crypto summit will be a major factor in The reference to the short -term performance of Bitcoin. “People are unsure and waiting to see what will happen next, eg. US Crypto Summit,” Crypto commentator Bitcoin Malaya Says on March 5.
The White House Crypto Summit is scheduled for March 7 and is expected to include more than 25 participants, including members of the Presidential Working Group in Digital Assets.
It came after a chaotic period for Bitcoin, which fell below $ 80,000 in Feb. 28 For the first time since November, following Trump’s tariff threat to Europe.
Related: Bitcoin price stabilized near $ 83k as investors in Eye S&P 500 recovery
Despite a brief bitcoin of $ 94,727 on March 2, following Trump’s March 1 announcement Pledging a crypto reserveIt returned back to $ 82,171 just two days later.
The sharp drawdown is Bitfinex analysts predict that “Any recovery to restore the price above $ 94,000 can deal with significant resistance.”
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This article does not contain investment advice or recommendations. Every transfer of investment and trading involves risk, and readers should conduct their own research when deciding.
