The price of Bitcoin put in another interesting performance over the past week, as the global uncertainty continued in the broader financial markets. However, the $74,000 resistance level<\/a> proved to be unyielding yet again, as the premier cryptocurrency made a fresh play for it as the weekend approached.<\/p>\n The investor sentiment in the Bitcoin market seems to be worsening with time, while the bullish momentum appears to be waning after the latest rejection. In fact, recent on-chain data shows that the sentiment is at a low not seen in nearly four years.<\/p>\n In a March 13 post on the X platform, crypto analyst Axel Adler Jr revealed<\/a> that the Bitcoin Fear and Greed Index has continued its descent over the past few weeks. The Fear and Greed Index is an on-chain indicator that measures sentiment in the crypto market and reflects some aspect of investor behavior.<\/p>\n Typically, the index ranges from 0 to 100 (often in percentage), with higher values often signaling extreme greed and overheating market conditions. Meanwhile, a lower value of the Bitcoin Fear & Greed Index suggests extreme fear and skepticism among investors.<\/p>\n According to CryptoQuant\u2019s data shared by Adler Jr, the 30-day average Fear and Greed Index has fallen to 10%, a level of pessimism seen during the market-wide crash brought about by the COVID-19 pandemic and the Terra (LUNA) ecosystem collapse. As observed in the chart below, the metric has been on a downturn since reaching a peak above the 75th percentile in late 2025.<\/p>\n Adler Jr. wrote on X:<\/p>\n Sentiment is now deeply compressed. For market structure to stabilize, Bitcoin likely needs to reclaim higher price levels.<\/p>\n<\/blockquote>\n While an upturn in price performance might be critical in improving the market sentiment, the current level of the Fear and Greed Index<\/a> might provide insight into Bitcoin\u2019s near-term trajectory. From a historical perspective, the premier cryptocurrency has often shown the tendency to bounce back when the market sentiment is at its lowest.<\/p>\n During the COVID-19 crash, the Bitcoin price rebounded from around $5,000 to a new all-time high after the Fear and Greed Index fell to around 10%. In 2022, though, the price of BTC did not reach a bottom until after the collapse of the FTX exchange (a few months after the index reached the 10% level).<\/p>\n In essence, the Fear and Greed Index being this low could imply that the market leader has either reached or is near its bottom.<\/p>\n As of this writing, the price of BTC stands at around $71,262, reflecting an over 1% jump in the past 24 hours.<\/p>\n Featured image from DALL-E, chart from TradingView<\/p>\n<\/div>\nBTC Fear & Greed Index Falls To 10% For First Time Since 2022<\/strong><\/h2>\n
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Bitcoin Price At A Glance<\/strong><\/h2>\n
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