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Bitcoin Fear & Greed Index drops to 44 after sharp decline triggered by US tariffs
The Bitcoin price has taken a significant hit following the announcement of new US tariffs, leading to a sharp decline that has sent the Fear & Greed Index plummeting to a dismal 44.
This drastic drop in sentiment is a stark contrast to the relatively optimistic outlook that existed just yesterday. The index had previously reached a nine-day high of 64, but a surprise tariff announcement from the Trump administration has sent shockwaves throughout the market.
The sharp decline has erased earlier gains and raised concerns about a potential continuation of the downtrend. Bitcoin’s price fell by over 6% to $82,200 following the news, leaving many wondering if this is an opportunity for investors to get in on some discounted cryptocurrency or a sign that the bear market has finally taken hold.
The sudden shift in sentiment comes as a result of the US government’s decision to impose new tariffs on certain goods. The move was met with widespread criticism and uncertainty, which seems to have spilled over into the crypto space.
Despite the recent downturn, it remains to be seen whether this is merely a short-term correction or if we are witnessing the start of something much more significant.
Source: https://thebitcoinnews.com/bitcoin-fear-greed-index-drops-to-44-after-sharp-decline-triggered-by-us-tariffs/
