Stock Groups

Here’s why Bitcoin traders say a drop to $38K is the worst case scenario -Breaking


© Reuters.

Fallout from the Recent hawkish remarks by Federal ReserveOn Jan. 6, the market continued to feel heavy about speculations that interest rates would be raised as early as March. The Crypto Fear & Greed index has been dialed down to 15 and some traders are lamenting the possible start of an extended bear market.

Crypto Fear & Greed Index. Source: Alternative

Source: Cointelegraph Markets Pro TradingViewIt was shown that bears tried to overcome the Jan.5 lows, bringing BTC to $42,439 in early trading on January 6.

BTC/USDT daily charts Source: TradingView
1-week chart. Source: Twitter
BTC/USD 1-day chart. Source: Twitter