Crypto joins stocks in 'extreme fear' after Bitcoin loses $30K support

Crypto joins stocks in 'extreme fear' after Bitcoin loses $30K support


Bitcoin (BTC) failed to regain $30,000 after losing support on July 20 as fear & greed indices raced each other to the bottom. 

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewBTC price stays below $30,000 waterline

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD continue trading in the $20,000-$30,000 zone on Tuesday.

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The largest cryptocurrency saw a turbulent night’s price action, abruptly adding to existing losses to seal 24-hour negative returns of -6%.

The move came in tandem with a souring sentiment on traditional markets. The Fear & Greed Index, which uses a basket of factors to determine the mood among market participants, fell into the “extreme fear” zone on Tuesday, measuring 17/100.

At the same time, the cryptocurrency equivalent, the Crypto Fear & Greed Index, raced to catch up, dropping to 19/100 — also denoted as “extreme fear.”

Crypto Fear & Greed saw local lows of just 10/100 last month, while the traditional counterpart’s score has halved in a week.

Crypto Fear & Greed Index as

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