Bitcoin Market Enters ‘Extreme Fear’ Territory Ahead Of Fed Meeting Today

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The Bitcoin market has tip-toed into “extreme fear” territory as the Federal Reserve prepares to meet Wednesday to decide its next move regarding interest rate and quantitative easing policies. BTC is trading at around $48,000 at the time of writing, nearly 30% below its November all-time high of $69,000.

The Fear and Greed Index analyzes market sentiment and emotion from different sources to crunch a number from zero to 100. The closer the index is to its lower bound, the more fearful the market is at the moment. The inverse is true for greed, when people begin purchasing bitcoin out of fear of missing out (FOMO). The metric is currently at 16, denoting extreme fear.

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