A crypto market sells off its second week as Bitcoin (BTC) prices stop at about $ 80,000 late on Sunday, motivating a fresh decline in major tokens and Altcoins.
Dogecoin (DOGE) and Cardano’s ADA led to losses with nearly 10% collapse over the past 24 hours, data shows, with a collapse of XRP of more than 7%. BNB Chain’s BNB, Ether (ETH) and Tron’s TRX) fell 5%, while BTC lost 4%.
It sent properly followed Crypto fear and green index In a multi-year low reading of 17-which indicates ‘intense fear’-its lowest level since mid-2023.
The index measures investor emotions and ranges from 0 (lowest emotions) to 100 (maximum emotion), helping to identify if investors are too scared (potential purchase opportunity) or too greedy (possible market correction).
It is based on price volatility, momentum, social media sentiment, Google Trends data, and overall part of the Bitcoin market. It tends to act as an indicator of the contractor in the short term.
The main tokens have fully -pared all the gains made after President Donald Trump announced a strategic Crypto reserve in the US earlier this month, sending tokens XRP, Solana’s Sol, and ADA above 60% on the days following.
Entrepreneurs are expecting windfall plans of buying pressure from the US for the nobility, but the hope is eliminated as Trump’s re-repurposed previously seized BTC’s handling as a reserve and said non-BTCs seized assets can be considered a ‘stockpile’ of tokens.
Then, an expected White House Crypto Summit on Mar.7 ended with a “none without” without expected to be announced. The summit resulted in a plot for Stablecoin law by August and a promise of lighter regulation, but outcomes did not stimulate the market as expected.
The losses were enlarged as the global markets struck amid an ongoing tariff war provoked by Trump and other world leaders. A widely monitored Dollar Index (DYX).
Entrepreneurs are in a wait-and-watch mode as they approach the coming months, mainly eying macroeconomic data and decisions for hints in further positioning.
“The summit signed for more optimism,” Kevin Guo, director of Hashkey Research, told CoinDesk in a telegram message. “Despite expectations for greater announcements as crypto assets continue to comply with US equality -equivalent to a negative work of reporting work in February who has seen generally stable results despite cuts on government employment work.
“Investors did not expect a reversal of the trend as Federal Reserve Chairman Jerome Powell assured that the Fed would continue to show patience on a stunning road at a 2% inflation rate, which further lowered the expectations of a rate cut this year,” Guo added.
Traders buy short dated wealth, per Bloomberg.
