[Bitcoin Now] 0.5% Drop Amid Pause... Investor Sentiment at 'Greed'

As concerns in the banking sector persist, the previously rising Bitcoin price is showing weakness.

Image source=Reuters·Yonhap News

According to the global virtual asset market tracking site CoinMarketCap, as of 12:54 PM on the 19th, the Bitcoin price was recorded at $27,257 (approximately 35.69 million KRW), down 0.48% from the previous day.

Bitcoin prices had surged recently amid a series of banking crises, including the bankruptcy of the U.S. Silicon Valley Bank (SVB) and the liquidity crisis at Switzerland's Credit Suisse. Over the past week, it rose by 32.01%. Analysts suggest that the banking crisis factors are not directly related to virtual assets, and that liquidity withdrawn from banks is moving into the coin market. However, it appears that the market is taking a breather following the short-term rapid rise.

Investor sentiment in virtual assets showed a level of greed. According to the virtual asset data provider Alternative, the Fear & Greed Index representing investor sentiment recorded 64 points (greed), down 1 point from the previous day. Compared to 33 points (fear) just a week ago, investor sentiment has significantly improved. Alternative's Fear & Greed Index ranges from 0 points, indicating extreme fear and pessimism about investment, to 100 points, indicating optimism.