- Greed remained dominant as the worth of crypto belongings declined.
- BTC has sipped and stayed beneath its assist ranges.
The latest decline in main crypto belongings like Bitcoin [BTC] and Ethereum [ETH] has despatched shockwaves by the crypto trade.
Whereas merchants carefully monitored the worth tendencies, the Concern and Greed Index indicated that sentiment stays optimistic for now.
Concern and Greed Index stays optimistic
An evaluation of the crypto Concern and Greed Index confirmed that regardless of the decline within the costs of most cryptocurrencies, there remained a way of optimism.
The index indicated a state of greed, with a present score of round 64%.
Nonetheless, an evaluation of the chart on Coinglass confirmed that the extent of greed was reducing at press time. Yesterday, the index was round 74.
This prompt that whereas the group’s sentiment stays optimistic, it was turning into much less bullish.
![Crypto Fear and Greed Index](https://ambcrypto.com/wp-content/uploads/2024/06/download-3.png)
![Crypto Fear and Greed Index](https://ambcrypto.com/wp-content/uploads/2024/06/download-3.png)
Supply: Coinglass
AMBCrypto’s evaluation of the worth tendencies of Bitcoin and Ethereum defined why the Concern and Greed Index has trended the way in which it has in the previous couple of days.
How the Bitcoin affected the Index
Bitcoin’s worth pattern confirmed that the $65,000 worth vary had served as a long-term assist degree. Nonetheless, the latest downtrend has damaged this assist.
The evaluation indicated that Bitcoin lastly broke beneath the assist line on the 18th of June, when the worth touched $65,152 after a 2% decline.
![Bitcoin price trend](https://ambcrypto.com/wp-content/uploads/2024/06/BTCUSD_2024-06-19_08-26-34.png)
![Bitcoin price trend](https://ambcrypto.com/wp-content/uploads/2024/06/BTCUSD_2024-06-19_08-26-34.png)
Supply: TradingView
Its Relative Energy Index (RSI) additionally indicated that it remained caught beneath the impartial line, suggesting a powerful bear pattern in the mean time.
Whereas the sentiment of the Concern and Greed Index remained optimistic on the present worth, it may drop if Bitcoin’s worth declines additional.
Ethereum’s results on the Index
Ethereum’s worth pattern confirmed that it has declined in the previous couple of days. Nonetheless, in contrast to Bitcoin, its assist degree has held regardless of the declines.
The chart indicated that Ethereum declined by lower than 1% on the 18th of June, with its worth falling to round $3,482. As of this writing, it has elevated by over 1% and was buying and selling at over $3,500.
![Ethereum price trend](https://ambcrypto.com/wp-content/uploads/2024/06/ETHUSD_2024-06-19_08-30-15.png)
![Ethereum price trend](https://ambcrypto.com/wp-content/uploads/2024/06/ETHUSD_2024-06-19_08-30-15.png)
Supply: TradingView
Learn Bitcoin’s [BTC] Value Prediction 2024-2025
Whereas the worth of BTC has declined and will dip the Concern and Greed Index, the general worth pattern has helped it keep balanced to this point.
Nonetheless, given BTC’s dominance, an additional drop in its worth may push the index into panic mode.