Data shows the Bitcoin trader sentiment has plunged back into the extreme fear zone as the asset’s price has erased its recent gains.
Bitcoin Has Already Retraced The Crypto Reserve Hype Rally
Bitcoin and the rest of the cryptocurrency market kicked off this new week on a very positive note as prices across the sector marked a sharp improvement following the Crypto Strategic Reserve announcement from US President Donald Trump.
It would appear that this optimism couldn’t last, however, as the various assets have already witnessed a retracement. Below is a chart showcasing the rollercoaster that Bitcoin has gone through recently.
The trend in the BTC price over the last five days | Source: BTCUSDT on TradingView
As is visible in the graph, Bitcoin touched the $95,000 mark at the height of the surge, but it has since plunged all the way down to $82,600. This means that not only has the number one cryptocurrency erased…
