Is Bitcoin at risk of another drop below $40K in a historically corrective March?

Cointelegraph

Published Feb 27, 2021 11:00AM ET

Updated Feb 28, 2021 01:00PM ET

Bitcoin (BTC) has seen a corrective week as the price dropped from $58,000 to $44,000 in a matter of days. This dropdown caused a panic reaction across the markets as the euphoria was immediately halted.

For instance, the Crypto Fear and Greed Index plunged to monthly lows of 56 after being above 90, or "extreme greed" for an entire month.

Crypto Fear & Greed Index. Source: Alternative.me
BTC/USDT 4-hour chart. Source: TradingView
BTC/USD 1-day chart. Source: TradingView
XBT/USD 1-week candle chart. Source: Tradingview
XBT/USD 1-week chart. Source: TradingView

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