Solana, Avalanche and Algorand post losses as market falls, sentiment flips to 'extreme fear' Solana AVAX ALGO
Asreported, another headwind in the cryptocurrency mining sector was due to a wave of protests erupting in Kazakhstan, the second-largest Bitcoin mining country.
Kazakhstan's government imposed a nationwide internet shutdown to quell unrest, forcing local miners to switch off their equipment. and Greed Index, which indicates the market's sentiment, has shifted into"extreme fear" territory, suggesting traders are more fearful. The index presently sits at 15, levels not seen since Dec. 11. Though the index subsequently rebounded from this bottom in December, the recovery was not substantial enough.
Analysts pinpoint $40,000-$42,000 as the crucial area to hold for Bitcoin, with action above it matching"accumulation." The trend of altcoins following Bitcoin's lead remains unsquashed and may persist in the near term.
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