The broader crypto market appears to be stuck in a consolidation range, with the Fear & Greed Index currently reading 52, which is a neutral sentiment that could easily swing in either direction. According to crypto analyst Warren MUPPET on the social media platform X, this swing will be to the downside.
These numbers might seem extreme to some, but they are not far-fetched. Bitcoin, Ethereum, and XRP all crahsed to these price levels just two months ago in April. This gives some credibility to the warning and if sentiment turns negative, a drop to these prices may not be out of the picture.
At the time of writing, Bitcoin is trading at $105,096, Ethereum is trading at $2,540, XRP is trading at $2.16, while Hype is trading at $42.
Featured image from Unsplash, chart from TradingView
