A massive sale of Crypto Market extended to his second week, since Bitcoin (BTC) prices were granted to almost $ 80,000 on Sunday night, which caused a new decrease in the main chips and Altcoins.
Dogecoin (Doge) and Cardano’s ADA led the losses with a drop of almost 10% in the last 24 hours, according to the data, with XRP falling more than 7%. BNB of the BNB chain, Ethher (ETH) and TRX) fell 5%, while BTC lost 4%.
This has sent the encryption index and the Green Index well often to a low reading of 17 years of 17, which indicates the “extreme fear”, at its lowest level since mid -2013.
The index measures the emotions of investors and varies from 0 (lower feeling) to 100 (higher feeling), helping to identify whether investors are too scared (potential purchase opportunity) or too greedy (possible market correction).
It is based on pricing volatility, impulse, the feeling of social networks, Google tendencies data and Bitcoin’s general market share. It tends to act as an opposite indicator in the short term.
The main tokens have completely reduced all the profits obtained after President Donald Trump announced a strategic cryptography reserve in the United States earlier this month, sending tokens XRP, Solana’s Sol and Ada Higher up to 60% in the following days.
The merchants expected unexpected plans of unexpected purchasing pressure of the US.
Then, an anticipated White House crypto summit on March 7 ended up in a “nobleja” without the expected bold ads. The summit resulted in a framework for Stablecoin legislation in August and a lighter regulation promise, but these results did not stimulate the market as expected.
The losses were magnified as global markets received success amid a continuous tariff war caused by Trump and other world leaders. A widely tracked dollar (dyx) index, a measure of the fortress of the US dollar, is at its lowest point from November, to less than 105 (a DXy index above 100 is considered strong, which tends to press risk assets).
Merchants are now in a waiting and observation mode as they approach the coming months, mainly macroeconomic data and decisions for additional positioning signals.
“The summit said more optimism,” said Kevin Guo, director of Hashkey Research, Coindesk in a telegram message. “Despite the expectations of more substantial ads as cryptography assets continue to follow US actions in a negative trend following the February work report that saw results generally stable despite government job cuts.
“Investors do not expect a reverse of the trend, since the president of the Federal Reserve, Jerome Powell, said that the Fed will continue to show patience on a road full of potholes towards an inflation rate of 2%, which further reduced the expectations of a rate cut this year,” Guo added.
Merchants have been buying Treasury bonds of short date, according to Bloomberg, waiting for the Federal Reserve to resume interest rates as soon as older than May to prevent the economy from deteriorating, a sign of hope of cryptographic bulls and lower rates tend to create flows in more risky assets.
