The Bitcoin Fear and Greed Index has recently declined to its lowest point in two months, reflecting an overall increase in market fear.
The sentiment of the Bitcoin market has taken a downturn, dropping from a high of 48 one month ago to a current reading of 33. This is an indication of a bearish sentiment in the market following the collapse of various crypto friendly banks and fear of US Government regulation
The Bitcoin price has recently seen a decline in value falling from $24500 high to $19500 low with Bitcoin being one of the currencies that has experienced significant losses .This has caused a sharp decrease in the overall market value with the entire crypto market cap falling below 1 trillion.
Some investors view the recent decrease in sentiment surrounding Bitcoin as an opportunity to buy, as Bitcoin has traditionally recovered strongly from similar declines.