Bitcoin Falls Below $84,000 After Initial Surge to $94,000
Bitcoin recently reached $94,000 amid the announcement of a U.S. crypto strategic reserve that will include BTC, ETH, SOL, ADA, and other assets. However, it has since declined by 10%, falling below $84,000.
Key Market Indicators
- Open Interest Change (7D) dropped by 14.42% on March 1, indicating reduced speculative trading.
- The Crypto Fear & Greed Index fell from 72 (extreme greed) to 26 (fear), reflecting a shift in investor sentiment.
Market Outlook
The Crypto Summit at the White House on March 7 may impact Bitcoin's price trajectory. Potential regulatory announcements could lead to short-term volatility for major assets.
- Banker suggests caution but indicates possible strategic entry points for long-term investors.
