Rising Unemployment and Resurgence of Rate Cut Expectations Mt Gox Selling Pressure Sparks Cryptocurrency Market Anxiety
Even the traditionally bullish cryptocurrency trader Ali Martinez has changed his stance, turning bearish. He noted that the current Fear and Greed Index has dropped to 29, indicating a market engulfed by fear. Martinez believes Bitcoin must reclaim the neckline at 61,000 USD to have a chance at restarting its upward trend. Otherwise, lacking significant support below, key levels could drop to 47,000 USD.
