LONDON (IT BOLTWISE) – Bitcoin price has seen a drastic decline after hitting a record high of over $126,000 two weeks ago. The price fell into the $104,000 area, which brought market sentiment to an extremely cautious level. The Bitcoin Fear & Greed Index shows a value of 22/100, indicating extreme fear. This development follows President Trump’s announcement of sweeping tariffs and export controls in response to China’s new restrictions.
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The Bitcoin market is currently experiencing a period of significant uncertainty as the price of the cryptocurrency has fallen to $104,000 after a recent high of over $126,000. This downward move has had a major impact on market sentiment, with the Bitcoin Fear & Greed Index reaching a reading of 22/100, indicating extreme fear. This index number is often seen as an indicator of possible turning points in the market as it reflects the psychology of investors.
The recent volatility in the crypto market has been triggered by geopolitical tensions, particularly President Trump’s announcement of sweeping tariffs and export controls starting in November 2025. These measures come in response to China’s new restrictions and have led to a sharp sell-off, with Bitcoin briefly falling 12%, while other major cryptocurrencies posted losses of up to 40%.
Technical indicators suggest that Bitcoin’s downward trend is not yet over. The Relative Strength Index (RSI) has fallen to 37, indicating weakness in momentum, while the Average Directional Index (ADX) is at 25.23, signaling a confirmed downtrend. On shorter time horizons, selling pressure has increased, with an RSI at 32.7 and ADX above 34, indicating strong bearish momentum.
Current market conditions also reflect broader weakness in stocks and commodities as investors prepare for renewed geopolitical tensions and cautious monetary policy commentary. Two weeks ago, when Bitcoin was trading above $124,000, the index showed a reading of 70, indicating greed and highlighting the drastic reversal in market sentiment. Meanwhile, gold has hit new all-time highs above $4,350 an ounce, further extending its dominance over Bitcoin this year.
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