Bitcoin Steady at $67,100 Amid Worst Sentiment Since February
- Bitcoin is trading at $67,100, remaining flat over the weekend.
- Social media sentiment shows a ratio of five bearish posts for every four bullish ones.
- The Fear and Greed Index is at a low of 9, indicating extreme fear in the market.
- ETFs absorbed approximately 50,000 BTC in March, the highest monthly pace since October.
- Whales have removed about 188,000 BTC this year, marking a significant distribution cycle.
Despite Bitcoin’s price stability within a $65,000 to $73,000 range over the past month, market sentiment has deteriorated significantly due to ongoing geopolitical tensions and bearish discussions online. The institutional interest remains strong with significant ETF inflows, but overall market demand appears negative with more selling than buying.
Currently, Bitcoin’s price is holding steady despite extreme fear reflected in the Fear and Greed Index being at just nine. This contrasts sharply with historical patterns where April has been one of Bitcoin’s strongest months.(Source)
