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    Crypto news: BTC crashes to $42K with fear and greed index spike

    By Daniela Ešnerová


    Updated

    Market bulls and bears - representation of market sentiment.
    Levels of ‘extreme fear’ among cryptocurrency market participants is at levels unseen since last July – Photo: Shutterstock

    Cryptocurrency market sunk a whopping 9.27% over the last 24 hours of trading. The downturn was first sparked by US Federal Reserve's meeting minutes which showed that the bank is considering reducing its $8.3trn (£6.12trn) balance sheet.

    The fear and greed index, which tracks sentiment among cryptocurrency market participants, pinned the current mood to 15. (1 shows extreme fear and 100 extreme greed). Extreme fear among market participants is at its highest since 21 July 2020. The index takes into consideration volaitily, market volume, social media, dominance and trends.

    Bitcoin tanked to $42,000 - $43,000 levels London mid-morning - and it was trading some 32% below its all-time high recorded last November.

    DOGE/USD

    0.36 Price
    -6.850% 1D Chg, %
    Long position overnight fee -0.0616%
    Short position overnight fee 0.0137%
    Overnight fee time 22:00 (UTC)
    Spread 0.0012872

    ETH/USD

    3,039.64 Price
    -2.670% 1D Chg, %
    Long position overnight fee -0.0616%
    Short position overnight fee 0.0137%
    Overnight fee time 22:00 (UTC)
    Spread 6.00

    XRP/USD

    0.81 Price
    -2.480% 1D Chg, %
    Long position overnight fee -0.0616%
    Short position overnight fee 0.0137%
    Overnight fee time 22:00 (UTC)
    Spread 0.01168

    BTC/USD

    87,728.60 Price
    -0.640% 1D Chg, %
    Long position overnight fee -0.0616%
    Short position overnight fee 0.0137%
    Overnight fee time 22:00 (UTC)
    Spread 106.00

    Current downturn also means that there is £1trn less in the whole market value since all-time high. The total market caputalisation is currently $2.03trn, according to CoinMarketCap.com website.

    What is your sentiment on BTC/USD?

    87728.60
    Bullish
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    Bearish
    Vote to see Traders sentiment!

    Other crypto news: 

    • Non-fungible token platform OpenSea raised $300m (£221.23m) in a Series C funding round as the platform seeks to become a core destination for the technology.
    • Nasdaq-listed a blockchain technology-focused company, BTCS Inc, said it will pay out dividends in bitcoin as a first company quoted on the stock exchange. 

    Round-up of coins by market capitalisation

    As of 10:30 GMT:

    Read more: Crypto markets tumble as Fed considers paring balance sheet

    Markets in this article

    BNB/USD
    Binance Coin / USD
    618.33 USD
    -23.88 -3.750%
    BTC/USD
    Bitcoin / USD
    87728.60 USD
    -562.35 -0.640%
    ETH/USD
    Ethereum / USD
    3039.64 USD
    -83.31 -2.670%

    Related topics

    #Cardano #Bitcoin

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    The difference between trading assets and CFDs
    The main difference between CFD trading and trading assets, such as commodities and stocks, is that you don’t own the underlying asset when you trade on a CFD.
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