The price of Bitcoin showed another interesting performance last week as global uncertainty continued to affect the broader financial markets. However, the resistance level of $74,000 was once again unstable, as the prime cryptocurrency made a clean play for it since the weekend.
Investor sentiment in the Bitcoin market seems to be worsening over time, while the bullish momentum is easing after the recent rejection. In fact, the chain’s latest data shows that sentiment hasn’t been seen in nearly four years.
The BTC Fear and Greed Index has dropped by 10% for the first time since 2022
In a March 13 post on Platform X, crypto analyst Axel Adler Jr. revealed that the Bitcoin Fear Index has continued to decline over the past few weeks. The fear and greed index is a chain indicator that measures sentiment in the crypto market and reflects some aspects of investor behavior.
Typically, the index ranges from 0 to 100 (often in percent), with higher values often indicating extreme greed and overheated markets. Meanwhile, the low value of the Bitcoin Fear & Greed Index indicates extreme fear and skepticism among investors.
According to CryptoQuant, Adler Jr., on average, the Fear and Greed Index fell by 10% over a 30-day period, the level of desperation during the market-wide crash caused by the COVID-19 pandemic and the destruction of the Terra (LUNA) ecosystem. As seen in the chart below, the metric has declined since peaking above 75 percent at the end of 2025.
Adler Jr. wrote in X:
Feelings are now tightly compressed. In order to stabilize the market structure, Bitcoin will likely need to recover higher price levels.
While rising price indicators are important for improving market sentiment, the current level of the Fear and Greed Index can provide insight into Bitcoin’s near-term trajectory. Historically, the prime cryptocurrency often shows a reversal trend when market sentiment is at its lowest.
During the fall of COVID-19, the price of Bitcoin increased from around $5,000 to an all-time high, after the Fear and Greed Index fell by 10%. However, in 2022, the price of BTC did not bottom until after the collapse of the FTX exchange (several months after the index reached the 10% level).
Essentially, the Fear and Greed Index being so low can mean that the market leader has either reached its bottom or is close to it.
Bitcoin price at a glance
As of this writing, the price of BTC is around $71,262, reflecting a more than 1% jump over the past 24 hours.
