$BTC BTC What role does investor sentiment play in Bitcoin’s price movement?

Investor sentiment plays a vital role in the price movements of Bitcoin. Following a significant rally in early 2024, many investors are now cashing in on their profits. Concerns about potential regulations and broader economic uncertainties have led to a wave of panic selling. The Crypto Fear & Greed Index, which gauges market sentiment, plummeted from 72 (indicating greed) to 48 (neutral) within just a week, highlighting this change.$BTC