Bitcoin Fear and Greed Index Deep in Extreme Fear as BTC Dumped to $34K

-The Fear and Greed Index has dropped into an extreme fear territory once again, registering a level of 18.
-The metric hasn’t been in such a poor state since late January, when the asset’s price dropped to $33,000.
-Since the end of March, the landscape around the primary cryptocurrency has been rather bearish.
-In April alone, BTC dumped by more than $10,000 and closed the month below $40,000.
-May is not going well either so far, with BTC plunging below $36,000 in the past 24 hours.
-The extreme sell-off has driven the Fear and Greed Index to its lowest position since late January.
-CryptoQuant data shows that the number of larger players and whales sending between 10 and 10,000 BTC to exchanges was more significant than smaller investors depositing from 0,01 BTC to 10 BTC.
-This indicates that whales could have an “open position on the stock market and realizing profit in crypto could mean reducing risky assets to secure their positions on stocks.”

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