Bitcoin jumped back to around $70,600 on February 7 after falling near $60,000, reversing a recent 14% drop from early February highs. At the same time, the Crypto Fear and Greed Index fell to extreme fear, with a reading between 6 and 10, the lowest since 2022, highlighting deep investor anxiety over volatility, trading volume, and market sentiment. Contrarian traders see buying opportunities in the panic, with analysts like Benjamin Cowen noting the irony, though some skeptics caution that the index may lag behind Bitcoin’s rapid price swings.
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