Bitcoin Price Analysis: Signals to Watch as Macro Shock Sends Crypto Fear Index to 35

Bitcoin (BTC/USD) fell sharply under $111,000 this week, extending losses as international danger sentiment deteriorated. Most of the promoting bias was triggered as BTC received rejected close to $124,500, the place a bearish engulfing candle on the day by day chart confirmed heavy profit-taking and a possible short-term development shift.

The transfer coincided with broader macro jitters, driving the Crypto Fear and Greed Index down to 35 (Fear), its lowest in over a month.

This drop mirrors the danger reset throughout international markets, with the whole crypto market cap slipping to $3.7 trillion and 24-hour buying and selling volumes nearing $497 billion.

Crypto Enters Risk-Off Territory

The newest downturn underscores how Bitcoin stays carefully tied to broader market sentiment. Correlation with U.S. equities climbed once more this week as danger belongings offered off amid renewed commerce and inflation considerations.

• Bitcoin: $110,705, down 8.59% in 24h
• Ethereum: $3,764, down 12.94%
• BNB: $1,092, down 13.6%
• Solana: $183, down 16.3%
• XRP: $2.41, down 14.0%

The Altcoin Season Index dipped to 37, confirming a renewed shift towards Bitcoin dominance. At the identical time, the CoinMarketCap 20 Index, monitoring main tokens, slid 10.5% to 235.1, highlighting broad promoting strain throughout the sector.

Investor psychology has additionally turned defensive. Historical Fear and Greed information exhibits sentiment has deteriorated from impartial (54) final week to worry (35) now, the steepest weekly decline since March.

As we mentioned in our earlier Bitcoin price predictions, the bearish butterfly sample accomplished its first goal, triggering a pointy selloff. Now, let’s check out the contemporary evaluation and the place Bitcoin may head subsequent.

Bitcoin Chart Outlook: Key Levels to Watch

Technically, Bitcoin’s drop under its ascending trendline from April alerts a weakening bullish construction. The RSI (38.8) signifies that BTC is getting into oversold territory, whereas the MACD has crossed bearishly into damaging momentum.

The $108,000–$110,000 zone stays an important assist space that has repeatedly attracted long-term consumers since June. Candle formations during the last three classes, marked by lengthy decrease wicks, point out dip consumers defending this stage.

A Doji or spinning prime close to this area may mark the early phases of a reversal, significantly if confirmed by a rebound above $117,000, which aligns with the 50-day shifting common and prior resistance zone.

If this restoration holds, Bitcoin might try one other retest of $124,000, adopted by a medium-term goal close to $126,000–$130,000. Alternatively, failure to keep over $108,000 may expose draw back targets close to $103,000 and $98,200, the place historic demand zones reside.