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BTC could fall to $52K on recession fears and deteriorating sentiment

BTC could fall to $52,000 amid recession fears and deteriorating sentiment among futures traders, according to Cointelegraph. "Earlier, JPMorgan raised the probability of a US recession to 35% from 25%, while FOMC member Michelle Bowman said a September rate cut is unlikely due to still high inflation risks and a weak labor market. Furthermore, the annualized Bitcoin futures premium has remained below 10% since July 30th (local time). This suggests a lack of leveraged demand," he said. "As BTC price volatility continues, trader sentiment could deteriorate or mass liquidation could occur, pushing BTC down to the $52,000 level," he added.

Meanwhile, a Bernstein report from Wall Street investment bank Bernstein analyzed that the rising chances of Vice President Carmela Harris winning the election could be the cause of the Bitcoin price decline. "U.S. presidential betting on decentralized prediction market platform Polymarket and recent polls have increased Harris' chances of winning. The Democratic Party's broader approach to crypto and her unclear stance on crypto regulation are interpreted as bearish signals for the crypto market," the report said.

Crypto 'Fear-Greed Index' at 49...moving to neutral

Crypto data provider Alternative's self-estimated “Fear-Greed Index” rose four points from the previous day to 49. The improvement in sentiment moved the index from fear to neutral. The index indicates extreme fear in the market when it is close to zero, and extreme optimism when it is close

blockchain crypto cryptocurrency fear greed index 26 btc 55K (SpotedCrypto)

Crypto 'Fear-Greed Index' 26...Fear Continues , CME BTC Futures Gap $870

Crypto data provider Alternative's self-estimated “Fear-Greed Index” fell three points from the previous day to 26. The fear phase continues with a slight contraction in confidence. The index indicates extreme fear in the market, with readings closer to zero indicating extreme fear, and readings closer to 100 indicating

blockchain crypto cryptocurrency bitcoin reclaim 62K we wish (Spoted Crypto)

Bitcoin supports $60K, break of $62K will change the trend and close nearly $700M worth of shorts

Wall Street takes a breather ahead of Fed Chair Jerome Powell's speech at the Jackson Hole meeting. Bitcoin held the $60,000 level in the New York market on Dec. 22 (local time). Cointelegraph reported that the $60,000 support level held firm, supported by inflows into ETFs.

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