FxPro analyst: The encryption market has not yet attracted dip buyers and contrarian traders

Golden Finance reported that with the net outflow of the US BTCETF for the first time since early January, the highly followed Cryptocurrency Fear and Greed Index has entered the “fear” zone, significantly lower than the peak in November last year. Alex Kuptsikevich, Chief Market Analyst at FxPro, said this is an indirect signal that the relatively stable performance of the market is suppressing investors’ emotions. The most worrying thing is that, at the current level of sentiment and Market Cap, the market has not yet attracted dip buyers and contrarian traders. According to reports, BTC technical analysis shows that it may form a so-called “death cross”, that is, the short-term trend line falls below the long-term trend line, and some people are worried that this may herald a sharp drop in BTC prices. The price of BTC once broke through the $100,000 mark after Trump’s victory, but is currently stalled below this key level.