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Bitcoin (BTC) is in the red ahead of a difficult week in the cryptocurrency market
The coming week might be difficult for Bitcoin and the larger market. Market perception about the Federal Reserve’s monetary policies and regulatory monitoring continue to be important factors.
Bitcoin’s (BTC) three-day winning streak came to an end on Sunday. Following a 1.11 percent increase on Saturday, Bitcoin fell 0.75 percent to $37,914.
5-days in the green from 7 would have provided little comfort to Bitcoin bulls. Bitcoin climbed by only 4.4 percent in the week ending January 30th, barely partially recovering a 15.7 percent drop the previous week.
Following a 1.54 percent surge on Friday powered by the NASDAQ, Bitcoin and the broader crypto market received more support on Saturday. However, with so much uncertainty ahead, it was a different story on Sunday, with the crypto majors floundering.
The Bitcoin Fear & Greed Index
However, 5 days in the green from 7 resulted in an increase in the Bitcoin Fear & Greed Index. The Index surged to 29/100 on Sunday, matching the peak set on January 3rd, after recovering from a low of 11/100 on January 23rd. At the time of writing, a decline to 20/100 illustrates the amount of uncertainty that Bitcoin investors continue to confront.
