Fear Dominates as Altcoins Lag, BTC Price Tests Key Levels
Crypto majors bitcoin , ether , and solana consolidated over the past 24 hours following a volatile week that saw the broader market fall to the lowest levels in months.
The market is still gripped by “extreme fear” with the Fear and Greed Index standing at 12/100, although it’s worth noting that prolonged periods below 20/100 typically pave the way for a market bounce.
Altcoins continue to struggle with a lack of liquidity and lack of demand for speculative risk assets. The CoinDesk Memecoin Index (CDMEME) is down by 30% in the past month, underperforming CoinDesk 5 (CD5), which has lost 23%.
Bitcoin now faces a test in order to reverse the bear-market trend. A rejection anywhere up to…
