BTC Fear & Greed Index Slides to Neutral on Regulatory Jitters

Bitcoin's (BTC) price dropped by 1.00% on Thursday. Bitcoin finished the day at $23,950 after suffering a 1.12% loss on Wednesday. Bitcoin fell below $24,000 for the first price in seven days after the negative session. BTC's loss run now stands at three days.

Bitcoin rose to a peak of $24,600 in the early morning following a positive start to the day. After hitting the First Significant Resistance Line (R1) at $24,591, Bitcoin fell to a low point of $23,622 for the day. Before finishing the day at $23,950, Bitcoin momentarily breached the First Significant Support Line (S1) at $23,684.

Regulation Action Places Bitcoin on a Prolonged Loss Run

Investor mood was negatively impacted on Thursday by heightened governmental monitoring of the digital asset market.

Targeting the digital asset market, the Fed united the SEC, US DoJ, and CFTC. The IMF, however, also expressed its opinions on the digital asset market by publishing a report on digital assets and practical measures to control the dangers associated with cryptocurrencies.

the SEC and the New York Department of Financial Services (NYDFS) have reportedly objected to Binance.

The US buying Situation was also unfavorable. Binance. The US's intentions to purchase Voyager helped reduce the danger of a pandemic at the end of 2022.

The NASDAQ Composite Index and US economic indexes did, however, offer some midday assistance.

The US GDP grew by 2.7% in Q4 as opposed to the preliminary 3.2%. Economic experts expect growth to be 2.9%. Initial unemployment claims decreased from 195k to 192k, but labor market circumstances tightened nonetheless. Analysts predict a 200k rise.

The results and company profits caused the NASDAQ Composite Index to increase by 0.72%. The NASDAQ mini, however, fell 16 points this morning.