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BTC Fear & Greed Index Avoids sub-20 Despite a Bearish BTC Session
To test investor resolve, BTC extended its losing skid to three sessions and finished Sunday at less than $19,000 for a fourth day this week.
Bitcoin (BTC) decreased by 0.62% on Sunday. BTC lost 1.89% on Saturday before dropping 3.10% at the end of the week to $18,817. BTC missed the $20,000 mark for the sixth session in a row and finished the day below $19,000 for the fourth time this week.
BTC saw a bullish morning, climbing to a late-morning high of $19,188 before going back down. BTC declined to a late low of $18,646 after falling short of the First Major Resistance Level (R1) at $19,226.
Before completing the day at $18,817, BTC breached the First Major Support Level (S1) at $18,733.
The crypto news wires were silent once again since there were no relevant crypto happenings.
Investors may have wondered how the Fed and other central banks would affect the state of the world economy in the absence of news.
Riskier assets continue to face resistance from pessimistic predictions and an unrelenting Fed working to bring inflation to goal. The larger cryptocurrency market separated from the NASDAQ 100 last Thursday and Friday. Investor attention would be drawn away from the Fed and the general economic environment if the decoupling persisted.
However, as the SEC and the CFTC compete to govern the digital asset market, regulatory talk will continue to be a key topic of discussion.
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