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Bitcoin Falls Below $80,000, Dropping Nearly $30,000 from Yearly Peak
On February 28, Bitcoin fell below the $80,000 mark, reaching a low not seen since last November, down nearly $30,000 from its yearly peak.
Between February 24 and February 27, Bitcoin experienced a significant decline. This sharp drop was accompanied by a prolonged outflow of funds from Bitcoin spot ETFs. This week, the total outflow from the entire Bitcoin spot ETF market reached $2.4 billion. On February 25, Bitcoin recorded the largest ETF fund outflow since its launch, amounting to an astonishing $1.13 billion.
The Cryptocurrency Fear and Greed Index has dropped to its lowest level since 2022, with a score of 11, indicating an “Extreme Fear” zone. The current situation may present a buying opportunity, as the simple strategy of buying in extreme fear and selling in greed has consistently proven to be profitable.
On February 28, Bitcoin fell below the $80,000 mark, reaching a low not seen since last November, down nearly $30,000 from its yearly peak.
Between February 24 and February 27, Bitcoin experienced a significant decline. This sharp drop was accompanied by a prolonged outflow of funds from Bitcoin spot ETFs. This week, the total outflow from the entire Bitcoin spot ETF market reached $2.4 billion. On February 25, Bitcoin recorded the largest ETF fund outflow since its launch, amounting to an astonishing $1.13 billion.
The Cryptocurrency Fear and Greed Index has dropped to its lowest level since 2022, with a score of 11, indicating an “Extreme Fear” zone. The current situation may present a buying opportunity, as the simple strategy of buying in extreme fear and selling in greed has consistently proven to be profitable.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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