Will Bitcoin Price Follow Sentiment Lows This Week?
Bitcoin faces new lows amid geopolitical concerns and inflation, with whales increasing exchange inflows and sentiment hitting historic lows.Summary
Bitcoin is experiencing downward pressure as February ends, with prices falling below $65,000. Geopolitical tensions, including issues surrounding Iran and new US tariffs, combined with persistent inflation worries, are creating uncertainty in the market. Analysts note that Bitcoin's price action is mirroring the 2022 bear market, as indicated by onchain data. The Crypto Fear & Greed Index has plummeted to 5/100, signaling 'extreme fear,' a level not seen since 2022. Large Bitcoin holders ('whales') are depositing significant amounts of BTC onto exchanges, potentially indicating upcoming sales. Several traders predict further declines, with targets around $50,000-$60,000, while others anticipate a temporary rebound to $75,000-$76,000 before another drop. The market is described as 'on edge' and cautious due to increasing supply and limited buying interest.
(Source：Cointelegraph)