Crypto Fear and Greed Index Drops to Second Lowest Level of 6 Since 2018 as Bitcoin loses Crucial $20k Support

Summary:

• The crypto fearfulness and greed scale is presently astatine a 6, the second-lowest since August 2018, erstwhile it fell to a worth of 5.
• Bitcoin has mislaid the important $20k enactment level and deed a section debased of $18,742, with the play perchance opening the doors to much losses.
• A driblet beneath $20k could crook the Bitcoin marketplace into 1 of knife-catching.

There is simply a level of extreme fear successful the crypto markets. The crypto fearfulness and greed scale has deed a worth of 6, its second-lowest level since August 2018, erstwhile it deed a worth of 5. The screenshots beneath further show the existent marketplace temper owed to the ongoing crypto carnivore market.

Crypto fearfulness and greed scale astatine a worth of 6. Source, alternative.me

August 2018 had a little fearfulness and greed scale of 5. Source, alternative.me.

Bitcoin Loses the Crucial $20k Support Zone.

The crypto fearfulness and greed scale dropping to a jaw-dropping six comes successful the aftermath of Bitcoin losing the crucial $20k enactment portion and posting a section debased of $18,742.

In a blog station yesterday, erstwhile Bitmex CEO Arthur Hayes cautioned that the debased commercialized measurement diagnostic of weekends could effect successful further losses by Bitcoin and Ethereum beneath $20k and $1k, respectively. He said:

How debased tin we go? I judge we’ll find retired connected this fateful weekend. This week Bitcoin and Ether bounced disconnected of $20,000 and $1,000 respectively successful an awesome fashion. Can they clasp a renewed onslaught connected these levels during a play wherever nary caller filthy fiat tin beryllium deposited connected crypto exchanges?

Bitcoin are You Okay – Arthur Hayes

Arthur Hayes has since Tweeted astir Bitcoin losing $20k by alluding to the precocious Michael Jackson’s deed of ‘Smooth Criminal’ by asking if Bitcoin was okay, and whether it had been deed struck by the Central Banker. His tweet tin beryllium recovered below.

#Bitcoin, are you okay? So, Bitcoin, are you okay?
Are you okay, Bitcoin?
You've been deed by-

You've been struck by-
The Central Banker pic.twitter.com/lg9dpKvS7w

— Arthur Hayes (@CryptoHayes) June 18, 2022

Bitcoin Below $20k Is Just Knife Catchers – Alex Krüger

In a akin investigation of Bitcoin losing its $20k support, BTC and crypto assemblage subordinate Alex Krüger stressed the value of trading supra this level. According to his analysis, Bitcoin losing $20k could alteration the marketplace into 1 of weapon catching. He explained:

[The] mode I spot it 20k is decisive for the aboriginal of crypto.

BTC supra 20k and it tin proceed being traded arsenic a hazard asset. With BTC supra 20k crypto remains a somewhat investable plus class.

Below and it’s conscionable weapon catchers, retail DCA, investors and miners puking, hatred and anger.