Bitcoin Price Recovers to $84,000 After Overnight Drop to $78,000
The price of bitcoin (BTC) has recovered to approximately $84,000 after dropping to around $78,000. However, it remains over 15% lower compared to last week.
The Crypto Fear & Greed Index fell to 10, a low not seen since the 2022 bear market, but has since improved to 16, indicating "extreme fear." Last week, the index was at 55, reflecting "greed."
- Bitcoin is down more than 1% in the last 24 hours.
- The broader CoinDesk 20 Index has decreased by about 2%.
- Solana (SOL) is up 5% due to the CME's announcement of SOL futures launching on March 17.
- SOL is still down 36% over the past month.
Weekend Outlook
Major stock and foreign exchange markets are closed over the weekend, while crypto markets remain open. Recent weekends have generally been unfavorable for bitcoin prices, according to Standard Chartered's Geoff Kendrick.
- Kendrick noted that risk assets may not rally into the weekend following recent bad news.
- Concerns over President Trump's impending tariffs could be fully priced in.
- A potential deal to avoid or delay tariffs might shift sentiment positively.
Market participants should prepare for volatility in the coming days.