Key Points:
The cryptocurrency Fear and Greed Index has returned to levels not seen since Bitcoin traded at $83,000.
Analysts are focusing on whether the "turning point" for Bitcoin's price has arrived.
User behavior on social media indicates that a price rebound should be the next step.
On Thursday night, Bitcoin sentiment suddenly collapsed, with the latest round of price declines triggering a new wave of liquidations.
According to the latest data from the cryptocurrency Fear and Greed Index, "fear" currently dominates market sentiment.
Bitcoin is approaching a new low for the month, with the price drop causing market sentiment to be impacted almost instantly.
Lagging behind market fluctuations, the cryptocurrency Fear and Greed Index was only 28/100 on Friday, a drop of 16 points in a single day, marking the lowest level since April 11.
"Stronger fear and higher prices," wrote cryptocurrency YouTube channel host Michael Pizzino on the X platform.
Pizzino pointed out that a new divergence is emerging between price and sentiment.
According to data from Cointelegraph Markets Pro and TradingView, the last time the cryptocurrency Fear and Greed Index was below 30/100, Bitcoin was around $83,000, just days after rebounding from a low of $75,000.
Relevant analysis suggests that the timing for a market reversal has arrived.
Pizzino added, "Will this become the long-awaited turning point for Bitcoin and the crypto industry? The analysis is optimistic, but it has yet to be confirmed."
Looking back at the performance since the beginning of the year, in 2025, the cryptocurrency Fear and Greed Index has experienced frequent and severe fluctuations. As reported by Cointelegraph in February, the index once dropped to 10/100 due to macroeconomic uncertainties related to U.S. trade tariffs.
Even before the latest round of declines, there were signs of a price rebound for Bitcoin.
According to research platform Santiment, social media users are convinced that prices will continue to decline.
The platform stated on X, "As usual, discussions about Bitcoin's next move on social media remain intense. Historically, the lower the price predictions, the greater the likelihood of a rise; higher predictions suggest that future prices may be lower."
Santiment noted, "A significant amount of anxiety and bearish sentiment has emerged among retail investors."
Data shows that large traders have been consistently increasing their positions recently.
Related: Analysts: The cryptocurrency market in the fourth quarter will be driven by legislation, ETP approvals, and stablecoin growth.
This article does not contain any investment advice or recommendations. Every investment and trade carries risks, and readers should conduct their own research before making decisions.
Original article: “Bitcoin (BTC) market fear reaches highest level since $83,000, analysts eye 'turning point'”
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