Bitcoin Sentiment Nears Extreme Fear: A Precursor to Market Recovery?
As of April 19, 2025, the Bitcoin Fear & Greed Index indicates that market sentiment is hovering close to extreme fear, a historically significant level that often precedes a potential recovery. This analysis delves into the implications of this sentiment shift and what it could mean for Bitcoin’s future trajectory.
Bitcoin Sentiment Close to Extreme Fear - Positive Sign for Recovery?
Data shows the Bitcoin sentiment is currently not far from the extreme fear region, which could be a positive sign for the asset’s recovery. The Bitcoin Fear & Greed Index, an indicator by Alternative, measures the average sentiment among traders in the Bitcoin and wider cryptocurrency markets using factors such as trading volume, volatility, market cap dominance, social media sentiment, and Google Trends. A numeric scale from 0 to 100 is used, with values under 47 indicating fear and above 53 indicating greed.
Critical ESP32 Chip Flaw Threatens Bitcoin Wallets Security
A critical security vulnerability is affecting Bitcoin wallets that rely on the China ESP32 chip, crafted by Espressif Systems. The flaw poses a significant risk to traders, potentially leading to the theft of private keys and jeopardizing millions of dollars in digital assets worldwide. The hardware of Blockstream Jade Plus wallet has also integrated the new ESP32-S3 chipset.
Glassnode Reports Remarkable Performance of Hard Assets Bitcoin and Gold Amidst Macroeconomic Uncertainty
The macroeconomic environment remains uncertain as global trade relations realign. However, onchain analytics firm Glassnode reported on April 16 that the performance of hard assets remains remarkable, citing gold’s all-time high and Bitcoin holding above $80,000 despite headwinds. The analysts noted that this could be considered a fascinating signal as the foundations of the financial system enter a period of transition and change.
Bitcoin Price Forecast: BTC Stabilizes Around $84,000
Bitcoin price stabilizes around $84,000 on Thursday after facing multiple rejections around the 200-day EMA. The price rejection occurred at $85,000 since Saturday. Despite the hawkish remarks by the US Federal Reserve (Fed) on Wednesday, which weighed on market sentiment for risky assets, BTC remains relatively stable. Additionally, institutional demand shows weakness as Bitcoin spot Exchange Traded Funds (ETFs) recorded an outflow of $169.87 million on Wednesday.
Bitcoin Faces Whale Dump, Miner Pressure, and RSI Breakout Signal: What’s Next?
Whales have sold 30,000 BTC, and miners have also offloaded 15,000 BTC when the prices dip below $80,000. bitcoin exchange reserves declined to 2018 levels while stablecoin buying power remains strong. A breakout of the RSI trendline indicates the possibility of a bullish trend if the price of Bitcoin closes above $92,000. CryptoQuant data shows that whales have sold more than 30,002 BTC in the past week, which is the highest value since January 2024. The 30-day change in the holdings of whales has become bearish. On April 7, Bitcoin miners transferred $92.2 million worth of 15,000 BTC to exchanges.
Gary Gensler Explains Why Bitcoin Will Last, While Most Altcoins Will Fade Away
Former US Securities and Exchange Commission (SEC) Chair Gary Gensler has stated that Bitcoin (BTC) could continue to exist and thrive for a long time due to its strong global interest. He emphasized that this may not be the case for most altcoins, as they lack solid fundamentals. In a recent interview with CNBC, Gensler mentioned that Bitcoin’s enduring presence could be attributed to the keen interest in it from people around the globe.
