‘Extreme fear’ grips Bitcoin price, but analysts point to signs of a potential reversal
Cointelegraph
Published May 25, 2022 06:00PM ET
Updated May 25, 2022 07:40PM ET
The cryptocurrency market settled into a holding pattern on May 25 after traders opted to sit on the sidelines ahead of the midday Federal Open Market Committee (FOMC) meeting where the Federal Reserve signaled that it intends to continue on its path of raising interest rates. According to data from Alternative.me, the Fear and Greed Index seeing its longest run of extreme fear since the market crash in Mach 2020.
Data from Cointelegraph Markets Pro and TradingView shows that the price action for Bitcoin (BTC) has continued to compress into an increasingly narrow trading range, but technical analysis indicators are not providing much insight on what direction a possible breakout could take.
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Written By: Cointelegraph
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