{"id":14653,"date":"2024-06-25T11:22:28","date_gmt":"2024-06-25T08:22:28","guid":{"rendered":"https:\/\/forklog.com\/en\/fear-and-greed-index-signals-bearish-sentiment\/"},"modified":"2024-06-25T11:22:28","modified_gmt":"2024-06-25T08:22:28","slug":"fear-and-greed-index-signals-bearish-sentiment","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/fear-and-greed-index-signals-bearish-sentiment\/","title":{"rendered":"Fear and Greed Index Signals Bearish Sentiment"},"content":{"rendered":"

On June 25, the cryptocurrency Fear and Greed Index dropped to 30 points, a level last seen in September 2023.\u00a0<\/p>\n

\"Fear
Cryptocurrency Fear and Greed Index. Data: Alternative.me<\/a>.\u00a0<\/figcaption><\/figure>\n

The metric’s decline occurred amid a general downturn in the crypto market. From June 24 to 25, Bitcoin fell from $62,500 to $59,100, dragging other assets down with it.\u00a0<\/p>\n

At the time of writing, digital gold had recovered to $60,800.\u00a0<\/p>\n

\"Fear
15-minute BTC\/USDT chart on Binance. Data: TradingView<\/a>.\u00a0<\/figcaption><\/figure>\n

According to Coinglass<\/a>, positions worth $302 million were liquidated in the past 24 hours, with $222 million in long positions.\u00a0<\/p>\n

\"Fear
Liquidation map. Data: Coinglass.<\/figcaption><\/figure>\n

Analyst Willy Woo attributed the situation to a “cascading long squeeze” in Bitcoin, triggered by the asset’s drop to a 53-day low and miners’ capitulation following the halving.\u00a0<\/p>\n

\n

\u2026speculators kept adding to new long positions, just adding more fuel for more liquidations in a cascading long squeeze.<\/p>\n

Bridging us down to the 58k cluster, which just got taken out. pic.twitter.com\/8Pvzccm8vF<\/a><\/p>\n

\u2014 Willy Woo (@woonomic) June 24, 2024<\/a><\/p><\/blockquote>\n