$BTC Bitcoin price remained under pressure below the 50-day moving average as the fear and greed index held at the fear zone.
Bitcoin btc0.86%Bitcoin was trading at $84,000 on Monday, just below the key resistance level at $85,000. This price is about 13.4% above its lowest level this month.
The coin’s movement followed Donald Trump’s decision to exempt certain items like smartphones and other electronic goods from recently announced tariffs. While equities initially surged following the news, much of those gains were later erased. The Nasdaq 100 index, for example, was up by only 90 points after earlier rising more than 500 points.
One key reason behind Bitcoin’s underperformance is that investor sentiment remains cautious. Many traders continue to stay on the sidelines. Spot Bitcoin ETFs recorded outflows of over $713 million last week, following losses of $172 million the previous week.
The crypto fear and greed index tracked by CoinMarketCap remains in the “fear” zone at 27, while the CNN Money index is sitting even lower in the “extreme fear” zone at 21. Historically, these levels indicate risk-averse behavior, with fewer investors willing to take on exposure during uncertain conditions.
