The Fear and Greed Index for Bitcoin continues to operate within the fear range, indicating that investors are currently feeling pessimistic and cautious towards the largest cryptocurrency in the world.

At the same time, Bitcoin continues to move within a price range, after declining by 2.9% in response to the Federal Reserve's interest rate decision.

Bitcoin Enters the Fear Range

However, when Bitcoin enters the fear range, especially extreme fear, it often represents a buying opportunity for market participants.

The index currently records 32 points, while it was at 31 points yesterday. Last week, it shifted from neutral to fear, moving from 49 points to 46 points.

On February 27 and March 4, it recorded 10 points and 15 points, which are indicators of extreme fear.

Bitcoin is currently moving within a range of $84,000, where it is trading at a price of $84,380 per coin. The largest cryptocurrency has seen a decline of nearly 3% since Thursday, March 20, in response to the Federal Reserve's interest rate decision.

On that day, during a scheduled meeting of the Federal Open Market Committee, Federal Reserve Chairman Jerome Powell announced that the board intends to...