The darkest scenarios have not been realised yet; however, the rebound impulse may quickly run out. Fundamentally, there is little support for Bitcoin and the crypto market as a whole. Altcoins are trying to keep up with Bitcoin, but even after the rebound the prospects are not overly optimistic: we are still witnessing the new lows.
Bitcoin’s greed and fear index bounced back slightly upwards but is still in the “Extreme Fear” zone, which may indicate that there is a buyer’s potential after the Bitcoin proves its intention to turn upwards, which is why it needs to stay at the current levels for some time.
The FxPro Analyst Team