Bitcoin investors are becoming more bearish as the fear and greed index drops from 65 to 48. The recent drop in Bitcoin's price rally to $30,000 is attributed to macro factors and a lack of clarity on rate hike possibilities from US Fed Chair Jerome Powell.
Despite recovering 75% this year, the bull market conditions for Bitcoin remain weak with declining transfer volume on the Bitcoin network. Experts predict a drop below the crucial support of $24,800, but some analysts believe the consolidation is over and BTC price should move higher.
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