Bitcoin (BTC) Price Slightly Recovers Amid Recent Fall Below $40K

• Since last week, the price of bitcoin has fallen 7.14 percent.
• “Extreme Fear” is being expressed by the Crypto Fear and Greed Index (FGI).

First-generation cryptocurrency, Bitcoin, is no exception to recent crypto market failures. In recent weeks, BTC has felt the pinch of a shrinking market. When it hit $49k in late March, the asset’s value was at a 2022 all-time high, and investors were left wondering where it would go next. March finished with a value of $46k for Bitcoin, down from a high of $49k, amid an ongoing downward trend. As a result, investors who had expected a quick recovery from the asset’s apparent pullback have been left disappointed.

Crypto Fear and Greed Index

Since last week, the price of bitcoin has fallen 7.14 percent, with a 24-hour increase of 1.36 percent, putting it at $40,495 as of this writing. As of April 11th, the asset was trading at $39.3k, the lowest price since mid-March. However, when it ended the day at $39.5k, the next day, it had risen to $40k and has since been bouncing between that level and that of $39k.

“Extreme Fear” is being expressed by the Crypto Fear and Greed Index (FGI) at the time of this writing, one of the ways used to evaluate market mood in the crypto area. Nevertheless, some experts remain optimistic despite Bitcoin’s challenges, and the whole crypto sector is now experiencing them.

PlanB is one such famous expert who is confident in a Bitcoin recovery based on the cryptocurrency’s last three missteps and backed it up instances in which it happened. However, he ended by saying that no such incident has occurred now. According to CMC, the Bitcoin price today is $40,495.06 USD with a 24-hour trading volume of $23,170,112,189 USD. Bitcoin is up 1.36% in the last 24 hours.

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