Bitcoin fights to hold $29K as fear of regulation and Terras UST implosion hit crypto hard

– The crypto “Fear and Greed Index” has plunged to its lowest level since March 2020, indicating that the market sentiment is still largely negative.
– Regulation continues to be the main threat weighing on markets, with United States Secretary of the Treasury Janet Yellen calling for a regulatory framework on stablecoins.
– The top traders’ long-to-short net ratio analyzes the positions on the spot, perpetual and futures contracts. From an analysis point of view, it gives a better understanding on whether professional traders are bullish or bearish.
– The CME futures traders’ indicator has entered backwardation, which is an alarming red flag because it indicates that bearish sentiment is present.

Bitcoin fights to hold $29K as fear of regulation and Terras UST implosion hit crypto hard
Bitcoin fights to hold $29K as fear of regulation and Terras UST implosion hit crypto hard 2

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