Bitcoin Fear and Greed Drops to a 4-Month Low: A Blessing in Disguise?

Instead of delivering a strong rebound from the disappointing October, November has offered nothing but more pain for Bitcoin investors. The asset’s price briefly plunged to a three-month low of around $67,600 before recovering to the current $69,300 (per CoinGecko), a 10% weekly decline. As expected, the red wave has weighed on community sentiment, and the popular BTC Fear and Greed Index entered “extreme fear” territory. This may sound scary at first sight, but can it actually be good news? Darkest Before the Dawn? US inflation came in higher than expected, giving the Fed a solid reason to increase interest rates next month. Nvidia’s shares nosedived after its longtime CEO, Jensen Huang, resigned amid an extramarital affairs scandal, triggering a broader sell-off across tech and crypto markets.

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