Bitcoin (BTC) is once again at a crossroads, with sentiment seen sinking to a level of “extreme fear”, a marker of the readiness to buy or sell, as well as the confidence that the price would go upward.
https://twitter.com/Crypto_MK2/status/1154057625010491397
The negative mood arrived just weeks after BTC was trading on “extreme greed”, and follows days of hawkish remarks on the side of US-based regulators. The sentiment sees BTC slide to July lows.
“As bitcoin has been pulling back from the recent highs, over the last week or so the number 8,500 keeps coming up in chat groups and social media as a level that people would be looking to buy bitcoin,” noted eToro analyst Mati Greenspan in his most recent analysis.
The $8,500 price level shows a switch in sentiment, and an expectation BTC will lose the battle, at least in the short term.
Steven Mnuchin, US Treasury Secretar...