Bitcoin's price saw a significant decline as profit-taking became prevalent ahead of the weekend, showcasing a shift in sentiment within the crypto market.
The Fear and Greed Index reported 'extreme greed,' traditionally indicative of market tops, suggesting that caution is warranted as a price correction might be forthcoming.
With nearly 90% of futures positions bullish before the drop, this overwhelming optimism created a fragile foundation that led to substantial liquidation once prices reversed.
The decrease in Bitcoin price, along with liquidations in bullish futures bets, highlights the volatility of the crypto market, often driven by emotional trading behaviors.
Collection
[
|
...
]