Bitcoin hits three-month low as fear index drops to 20 amid inflation and Fed worries
MARKETSBitcoincoinbrief/daily · 1 source
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What happened
Bitcoin dipped to around $67,600, a three-month low, before trading near $69,300, a 10% weekly decline. The Fear and Greed Index fell to 20, entering extreme fear and its lowest reading since early June. The sell-off followed higher-than-expected US inflation, which raises the chance of a Fed rate hike next month, and a slump in Nvidia shares after CEO Jensen Huang resigned amid an extramarital affairs scandal. Merlijn The Trader argued Bitcoin is mirroring its 2022-2023 price path, while whales sold 34,000 BTC in a week and spot BTC ETFs recorded heavy outflows.
For IT people · Written by AI from 1 source · Wrong?
What to do
- Watch whether Bitcoin holds above the $60,000 level that one X user named as a key line for his bullish view.
- Watch the Fed's next rate decision, which the article says could include a rise.
- Watch spot BTC ETF flows to see whether institutional outflows continue.
Written by AI from the sources, checked against them
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Who reported · 1 outlet
CryptoPotato
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