- Bitcoin Fear and Greed Index drops to Neutral sentiment with a score of 50.
- As Bitcoin price continues to decline, analysts expect $100,000 as the next dip target.
- Some analysts expect high 5-digit prices before next BTC ATH targets can be placed.
The price of Bitcoin has been on the decline since yesterday. To highlight, yesterday Bitcoin price fell to the $106,000 price range, triggering over $345 million in liquidations . This led to a further drop in crypto prices, falling to $103,00 today, where the price is currently hovering. In response, the Bitcoin Fear and Greed Index drops to Neutral sentiment, and analysts expect to see BTC hit $100,000 next.
Bitcoin Fear and Greed Index Drops to Neutral Sentiment
Bitcoin, the pioneer crypto asset, fell to the $103,000 price today, a much lower target from its drop to the $106,000 price range yesterday. To highlight, a series of brutal liquidations on set BTC trades upon BTC price dips pushed the price of BTC much lower than some analysts anticipated. However, before BTC hit its previous ATH at the $111,000 price range, some analysts did predict a fall to 5-digit prices, which may be playing out now.
To highlight, a few weeks ago, before BTC set its previous ATH record, some analysts predicted that the price of BTC would fall to prices between $98,000 – $99,000 before the asset would surge back to much higher ATH prices between $116,000 to $125,000. If this is true, then the price of BTC could fall to much lower targets soon, possibly today, or in the coming days ahead. This could mean that either May will have a red close or that June might have a rough start.
Presently, the falling prices of both BTC and ETH have led to FUD sentiment to ripple across the crypto market, affecting late investors who are seeing their portfolios in the red. As a result, the Bitcoin Fear and Greed Index , which was at positive scores, indicated a green Greed sentiment has now fallen to a score of 50, marking a ‘Neutral’ sentiment. Not too bad, but could trigger greater FUD if the community reacts badly.
At the same time, BlackRock’s BTC ETF outflows also saw a record high, adding another factor contributing to Bitcoin’s price continuing to fall rapidly. With the increasing expectations for greater price drops for Bitcoin (BTC), other analysts are sharing their opinions on how low the price of BTC can go. Are 5-digit BTC prices a possibility again? How long will it take for Bitcoin to move upwards?
$100,000 Next Possible BTC Dip Target
As we can see from the post above, this analyst expects the price of Bitcoin (BTC) to shift to a sideways movement, bringing some slow movement into play. He declares the short-term bullish trend to be finished and goes on to conclude that as long as BTC trades below the $108,000 price mark, then get ready to expect a BTC price of $100,000 soon.
