Price analysis 5/14: BTC, ETH, BNB, DOGE, ADA, XRP, DOT, BCH, LTC, UNI
The Crypto Fear and Greed Index has dipped to levels not seen since April 2020, indicating that traders are nervous about Tesla (NASDAQ:) backtracking on accepting (BTC) payments, Bitcoin’s multi-week technical weakness and U.S. regulator’s supposed investigation into the business operations of Binance exchange.
This nervousness also led to a massive inflow of 30,000 Bitcoin to the exchanges, the highest number since the March 2020 crash. This suggests some traders are booking profits on their long positions. CryptoQuant CEO Ki Young Ju said that whales have continued to send more coins to exchanges than usual, implying that near-term bearishness may not be over yet.
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