Fear Grips Market as BTC Price Tests Support, Altcoins Weaken
The crypto market showed few, if any signs, of recovery on Tuesday, with bitcoin trading at $91,400 while ether traded around $3,060.
The fear and greed index is now flashing 15/100, a low not seen since April, before the bitcoin price defied bearish expectations by surging to over $100,000 from $76,000 in the course of a month.
While there is a reason to expect a bounce given sentiment is resting at cycle lows, bitcoin may want to test the $87,500 level of support to flush out any remnants of leverage before shifting higher.
As Wall Street veteran Warren Buffet once said: “Buy when there is blood in the streets, even if it’s you’re own.”
That statement could ring true for a number of traders who are prepared to…
