Investor sentiment toward Bitcoin has deteriorated sharply after the price fell from approximately $79,000 toward the $73,000 area. The Fear and Greed Index dropped to 28, compared with 50 one week earlier and 57 one month before. According to analyst Willy Woo, this fear does not confirm the start of a prolonged bear market because historically bearish periods have generally been accompanied by new price lows. Holding support around $72,700 and reclaiming $75,000 could signal a recovery toward $79,000 or $80,000, while a break below $72,700 could expose the market to a decline toward $71,000.
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