The crypto Fear & Greed Index fell to its lowest level since April over the weekend, following Bitcoin’s crash below $104,000 on Friday. The market sentiment indicator registered “extreme fear” with a rating of 23 on Saturday and climbed to 29 on Sunday, but it remains deep in “fear” territory.
Market sentiment has not been this bad since the April crash, which was triggered by US President Donald Trump’s tariff announcement. At that time, around $500 billion was wiped off the total market capitalization, and Bitcoin tanked to $76,000. However, October has been even worse, with $900 billion exiting the markets during a record leverage flush last weekend. Bitcoin also deepened its correction, dropping 17% from its all-time high on October 6.
### Don’t Panic Yet
Markets have yet to recover from last week’s crash, and the total market cap remains at a three-month low of $3.72 trillion. Nevertheless, most experienced analysts and traders remain unconcerned, having witnessed similar bull market corrections numerous times before.
Bitcoin has been in an “incredibly steady and solid uptrend this cycle,” said Daan Crypto Trades. “Even with this recent decline, there’s no big change in market structure yet. But we are at a critical area,” he added.
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### Extreme Fear Creeps Back Into the Crypto Market as Bitcoin Tanks by $20K in Days
“For me, a move back below $100K would mean this is due for a larger and longer correction. At that point, there will be many doubts about whether the cycle is done or not,” Daan Crypto Trades explained. He added that BTC needs to “rise from the ashes of last week’s events” to regain momentum.
Analyst Sykodelic also commented that the markets are still in an uptrend, noting that every decline has hit the 50-week simple moving average and bounced back, as it did last week. “There has been mass fear in the market, with the majority panic selling and everyone saying it is over,” they observed.
Meanwhile, analyst Crypto₿irb pointed out that extreme fear has struck for the fourth time this cycle, as ETFs rushed to sell and October remains deep in the red. “In short, pressure builds at the bottom. BTC trades near $107K, fear peaking, volatility rising. ETF liquidity still strong, miners steady. The market’s coiling up for an even larger wave. When fear peaks, volatility wins,” Crypto₿irb noted.
Analyst Mr Anderson remains confident that the bull market is far from over, predicting a cycle peak of $148,000.
### Crypto Market Outlook
There has been little change in the crypto markets over the past 24 hours. Bitcoin has been trading in a very tight range between $106,000 and $107,000 and has failed to break the support-turned-resistance level at $108,000.
Ethereum spiked above $3,900 on Saturday but couldn’t hold the gains, falling back to the $3,850 level and also failing to break the resistance above $4,000. Altcoins remain battered and bruised, showing very little movement in either direction over the weekend.
Despite the current market jitters, the consensus among analysts is that the overall uptrend remains intact — for now. Traders and investors alike will be watching closely to see if Bitcoin can regain momentum and push through key resistance levels in the days ahead.
https://cryptopotato.com/analysts-confident-bull-market-will-continue-despite-extreme-fear/
