{"id":555173,"date":"2023-10-12T18:30:38","date_gmt":"2023-10-12T18:30:38","guid":{"rendered":"https:\/\/ktsl888.com\/?p=555173"},"modified":"2024-06-11T08:07:46","modified_gmt":"2024-06-11T08:07:46","slug":"bitcoin-plunge-27000-drives-investors-fear-rebound","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-plunge-27000-drives-investors-fear-rebound\/","title":{"rendered":"Bitcoin Plunge Below $27,000 Drives Investors Into Fear, Will Rebound Occur?"},"content":{"rendered":"<p>Data shows the Bitcoin drop below the $27,000 level has made most investors fearful for the first time this month.<\/p>\n<h2>Bitcoin Fear &amp; Greed Index Is Pointing At &#8220;Fear&#8221; Right Now<\/h2>\n<p>The &#8220;<a href=\"https:\/\/ktsl888.com\/news\/bitcoin\/bitcoin-buyers-reluctant-fear-and-greed-index\/\" target=\"_blank\" rel=\"noopener \">fear and greed index<\/a>&#8221; is an indicator that tells us about the general sentiment among investors in the Bitcoin and broader cryptocurrency market. <a href=\"https:\/\/alternative.me\/crypto\/fear-and-greed-index\/\" target=\"_blank\" rel=\"noopener nofollow\">Alternative<\/a> created the metric, and according to the website, it&#8217;s based on these factors: volatility, trading volume, social media sentiment, market cap dominance, and Google Trends data.<\/p>\n<p>The indicator uses a numeric scale from zero to hundred to represent the sentiment. When the index has a value greater than 54, it means that the average investor is greedy right now, while it being under 46 implies a fearful mentality is dominant.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/ktsl888.com\/bitcoin-news\/bitcoin-rejection-historical-line-bear-market-on\/\" target=\"_blank\" rel=\"noopener \">Bitcoin Finds Rejection At This Historical Line, Bear Market Back On?<\/a><\/div>\n<p>The region between these two thresholds naturally signifies a neutral sentiment among the holders. Until today, the sector had been stuck inside this region since the last couple of days of September, as the investors had been split about the trajectory of Bitcoin.<\/p>\n<p>The chart below shows that the market sentiment has worsened with the latest drop in the cryptocurrency&#8217;s price below the $27,000 level.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-555182 size-full aligncenter\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/10\/chart.png?resize=1127%2C509\" alt=\"Bitcoin Fear &amp; Greed Index\" width=\"1127\" height=\"509\" srcset=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/10\/chart.png?w=1127 1127w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/10\/chart.png?w=460 460w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/10\/chart.png?w=768 768w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/10\/chart.png?w=860 860w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/10\/chart.png?w=750 750w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/p>\n<pre style=\"text-align: center\">It looks like the value of the metric has registered some decline in recent days | Source: <a href=\"https:\/\/alternative.me\/crypto\/fear-and-greed-index\/\" target=\"_blank\" rel=\"noopener nofollow\">Alternative<\/a><\/pre>\n<p>After this latest drop in sentiment, the fear and greed index has hit a value of 45, meaning that investor sentiment has just entered the fear region.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-555183 size-large\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/10\/METER.png?w=367&#038;resize=367%2C333\" alt=\"Bitcoin Fear\" width=\"367\" height=\"333\"><\/p>\n<pre style=\"text-align: center\">The value of the metric seems to be 45 right now | Source: <a href=\"https:\/\/alternative.me\/crypto\/fear-and-greed-index\/\" target=\"_blank\" rel=\"noopener nofollow\">Alternative<\/a><\/pre>\n<p>Historically, the market has tended to move in a way that&#8217;s opposite to what the majority of the investors believe. The likelihood of such a contrary move happening increases as this imbalance in the sentiment rises.<\/p>\n<p>While the holders are leaning towards one side (fear), the imbalance is small, as the fear and greed index is barely inside the territory. As such, the probability of a rebound would be pretty high right now (at least based on the sentiment).<\/p>\n<p>Besides the core sentiments discussed before, there are also two special zones, called &#8220;<a href=\"https:\/\/ktsl888.com\/bitcoin-news\/bitcoin-sentiment-close-extreme-fear-why-matters\/\" target=\"_blank\" rel=\"noopener \">extreme fear<\/a>&#8221; (at or below values of 25) and &#8220;extreme greed&#8221; (at or above values of 75).<\/p>\n<p>These regions are where the cryptocurrency has often turned around in the past. Naturally, bottoms have occurred in the former zone, while tops have formed in the latter area.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/ktsl888.com\/bitcoin-news\/bitcoin-could-see-50-rise-based-analyst-explains\/\" target=\"_blank\" rel=\"noopener \">Bitcoin Could See A 50% Rise Based On This, Analyst Explains<\/a><\/div>\n<p>If the Bitcoin fear and greed index continues declining in the coming days and reaches values near the extreme fear region, a bounce could become a real possibility.<\/p>\n<p>For now, one sign pointing to the chances of a rebound may be that the large investors have been buying recently, as an analyst on X <a href=\"https:\/\/twitter.com\/ali_charts\/status\/20295774\" target=\"_blank\" rel=\"noopener nofollow\">pointed out<\/a>.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone aligncenter\" src=\"https:\/\/pbs.twimg.com\/media\/F8HATWxXEAAIpMy?format=jpg&amp;name=4096x4096\" alt=\"Bitcoin Whales\" width=\"2862\" height=\"1356\"><\/p>\n<pre style=\"text-align: center\">The BTC sharks have increased their holdings recently | Source: <a href=\"https:\/\/twitter.com\/ali_charts\/status\/20295774\/photo\/1\" target=\"_blank\" rel=\"noopener nofollow\">@ali_charts on X<\/a><\/pre>\n<p>Since the start of October, Bitcoin investors holding between 100 and 1,000 coins have purchased a combined 20,000 BTC worth around $533.6 million at the current exchange rate.<\/p>\n<h2>BTC Price<\/h2>\n<p>At the time of writing, Bitcoin is trading at around $26,700, down almost 5% in the past week.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium aligncenter\" src=\"https:\/\/www.tradingview.com\/x\/SGUOmJLT\/\" alt=\"Bitcoin Price Chart\" width=\"1534\" height=\"869\"><\/p>\n<pre style=\"text-align: center\">BTC has experienced some downtrend recently | Source: <a href=\"https:\/\/www.tradingview.com\/chart\/qFC1kfFd\/\" target=\"_blank\" rel=\"noopener nofollow\">BTCUSD on TradingView<\/a><\/pre>\n<div class=\"disclaimer-shortcode\">Featured image from Bastian Riccardi on Unsplash.com, charts from TradingView.com, Santiment.net<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Data shows the Bitcoin drop below the $27,000 level has made most investors fearful for the first time this month. Bitcoin Fear &amp; Greed Index Is Pointing At &#8220;Fear&#8221; Right Now The &#8220;fear and greed index&#8221; is an indicator that tells us about the general sentiment among investors in the Bitcoin and broader cryptocurrency market. Alternative created the metric, and according to the website, it&#8217;s based on these factors: volatility, trading volume, social media sentiment, market cap dominance, and Google Trends data. The indicator uses a numeric scale from zero to hundred to represent the sentiment. When the index has a value greater than 54, it means that the average investor is greedy right now, while it being under 46 implies a fearful mentality is dominant. Related Reading: Bitcoin Finds Rejection At This Historical Line, Bear Market Back On? The region between these two thresholds naturally signifies a neutral sentiment among the holders. Until today, the sector had been stuck inside this region since the last couple of days of September, as the investors had been split about the trajectory of Bitcoin. The chart below shows that the market sentiment has worsened with the latest drop in the cryptocurrency&#8217;s price below the $27,000 level. It looks like the value of the metric has registered some decline in recent days | Source: Alternative After this latest drop in sentiment, the fear and greed index has hit a value of 45, meaning that investor sentiment has just entered the fear region. The value of the metric seems to be 45 right now | Source: Alternative Historically, the market has tended to move in a way that&#8217;s opposite to what the majority of the investors believe. The likelihood of such a contrary move happening increases as this imbalance in the sentiment rises. While the holders are leaning towards one side (fear), the imbalance is small, as the fear and greed index is barely inside the territory. As such, the probability of a rebound would be pretty high right now (at least based on the sentiment). Besides the core sentiments discussed before, there are also two special zones, called &#8220;extreme fear&#8221; (at or below values of 25) and &#8220;extreme greed&#8221; (at or above values of 75). These regions are where the cryptocurrency has often turned around in the past. Naturally, bottoms have occurred in the former zone, while tops have formed in the latter area. Related Reading: Bitcoin Could See A 50% Rise Based On This, Analyst Explains If the Bitcoin fear and greed index continues declining in the coming days and reaches values near the extreme fear region, a bounce could become a real possibility. For now, one sign pointing to the chances of a rebound may be that the large investors have been buying recently, as an analyst on X pointed out. The BTC sharks have increased their holdings recently | Source: @ali_charts on X Since the start of October, Bitcoin investors holding between 100 and 1,000 coins have purchased a combined 20,000 BTC worth around $533.6 million at the current exchange rate. BTC Price At the time of writing, Bitcoin is trading at around $26,700, down almost 5% in the past week. BTC has experienced some downtrend recently | Source: BTCUSD on TradingView Featured image from Bastian Riccardi on Unsplash.com, charts from TradingView.com, Santiment.net<\/p>\n","protected":false},"author":542,"featured_media":555184,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,84333,88463,87825,1119,1144],"class_list":["post-555173","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-fear","tag-bitcoin-fear-greed-index","tag-bitcoin-rebound","tag-btc","tag-btcusd"],"acf":[],"yoast_head":"\n<title>Bitcoin Plunge Below $27,000 Drives Investors Into Fear, Will Rebound Occur?<\/title>\n<meta name=\"description\" content=\"Data shows the Bitcoin drop below the $27,000 level has made the majority of the investors fearful for the first time this month.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ktsl888.com\/news\/bitcoin-plunge-27000-drives-investors-fear-rebound\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin Plunge Below $27,000 Drives Investors Into Fear, Will Rebound Occur?\" \/>\n<meta property=\"og:description\" content=\"Data shows the Bitcoin drop below the $27,000 level has made the majority of the investors fearful for the first time this month.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ktsl888.com\/news\/bitcoin-plunge-27000-drives-investors-fear-rebound\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2023-10-12T18:30:38+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-11T08:07:46+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/10\/bastian-riccardi-rEoBwI7hNCU-unsplash.jpg?fit=5184%2C3456\" \/>\n\t<meta property=\"og:image:width\" content=\"5184\" \/>\n\t<meta property=\"og:image:height\" content=\"3456\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Keshav Verma\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@https:\/\/twitter.com\/keshavvarma29\" \/>\n<meta name=\"twitter:site\" content=\"@newsbtc\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Keshav Verma\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/ktsl888.com\/news\/bitcoin-plunge-27000-drives-investors-fear-rebound\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/ktsl888.com\/news\/bitcoin-plunge-27000-drives-investors-fear-rebound\/\"},\"author\":{\"name\":\"Keshav Verma\",\"@id\":\"https:\/\/ktsl888.com\/#\/schema\/person\/bdb6d57b7ea5cc00981204795656d1a6\"},\"headline\":\"Bitcoin Plunge Below $27,000 Drives Investors Into Fear, Will Rebound Occur?\",\"datePublished\":\"2023-10-12T18:30:38+00:00\",\"dateModified\":\"2024-06-11T08:07:46+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/ktsl888.com\/news\/bitcoin-plunge-27000-drives-investors-fear-rebound\/\"},\"wordCount\":499,\"publisher\":{\"@id\":\"https:\/\/ktsl888.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/ktsl888.com\/news\/bitcoin-plunge-27000-drives-investors-fear-rebound\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/10\/bastian-riccardi-rEoBwI7hNCU-unsplash.jpg?fit=5184%2C3456\",\"keywords\":[\"bitcoin\",\"Bitcoin fear\",\"Bitcoin Fear &amp; 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Keshav has been writing for many years, first as a hobbyist and later as a freelancer. He has experience working in a variety of niches, even fiction at one point, but the cryptocurrency industry has been the longest he has been attached to. In terms of official educational qualifications, Keshav holds a bachelor\u2019s degree in Physics from one of the premier institutes of India, the University of Delhi (DU). He started the degree with an aim of eventually making a career in Physics, but the onset of COVID led to a shift in plans. The virus meant that the college classes had to be delivered in the online-mode and with it came free time for him to explore other passions. Initially only seeking to make some beer money, Keshav unexpectedly landed clients offering real projects, after which there was no looking back. Writing was something he had always enjoyed and to be able to do it for a living was like a dream come true. Keshav completed his Physics degree in 2022 and has been focusing on his writing career since, but that doesn\u2019t mean his passion for Physics has ended. He eventually plans to re-enter university to obtain a masters degree in the same field, but perhaps only to satiate his own interest rather than for using it as a means to find employment.. Keshav has found blockchain and its concepts fascinating ever since he started going down the rabbit-hole back in 2020. On-chain analysis in particular has been something he likes to research more about, which is why his NewsBTC pieces tend to involve it in some form. Being of the science background, Keshav likes if concepts are clear and consistent, so he generally explains the indicators he talks about in a bit of detail so that the readers can perhaps come out having understood and learnt something new. As for hobbies, Keshav is super into football, anime, and videogames. He enjoys football not only as a watcher, but also as a player. 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