Bitcoin & Ethereum Sentiment Turns Bearish!
BTC is down approximately 2–2.6% over the last 24 hours, currently trading around $110K–$111K. That's almost a 10–13% decline from its recent high of the month above $124K. 📉🦂
ETH has fallen 1.8–4%, dropping from close to $5,000 down to the $4,600–$4,700 range. 🔻🔥
BTC has dropped below its 100-day moving average and also below the Ichimoku cloud, both indicating ongoing weakness.
Futures data indicate Bitcoin's taker buy-sell ratio has dropped to 0.95, the lowest of this cycle, implying sellers are dominating.
The Crypto Fear & Greed Index is approximately 47 (Neutral–Fear), indicating traders are still on guard.
In simple words:
Following a short burst of optimism by hopes of Fed rate cuts, both Bitcoin and Ethereum are fading. Technical indicators and market data indicate sellers winning out, with ETF withdrawals adding more pressure. Sentiment is precarious but oftentimes extreme fear precedes a reversal—so contrarian buyers may be watching closely.
