6 March BTC Current Outlook: Is the Bull Run Back or Just a Fakeout?

6 March BTC Current Outlook: Market Cheers, But Fear Index Tells a Different Story

After many days of volatility, the price of Bitcoin has recently risen back above $92,000, but investors remain wary, according to a sentiment tracker for the cryptocurrency market. According to CoinMarketCap data, Bitcoin is currently trading at $91,392, up 1.71% in the last day. The Crypto Fear & Greed Index, which measures general market sentiment, is still in Extreme Fear at a score of 25, having increased by just 5 points during the same time period as Bitcoin’s price jump.

Crypto Experts Divided: Will Bitcoin Surge or Stumble at $91,500?

For some traders, the price increase represents a critical range that is required for additional upside confirmation. In a March 5 X post, Michael van de Poppe, the founder of MN Trading, stated that $91,500 is the key resistance.

Basically, if that flips, we’re back in the range, and we’ll go to the other side of the range, which is a new all-time high,

van de Poppe

But other traders were perplexed. According to Mandrik, a pseudonymous cryptocurrency dealer, nobody knows what the hell is going on. The forthcoming US Crypto Summit, according to some, will have a significant impact on how well Bitcoin performs in the near future. On March 5, Bitcoin Malaya, a cryptocurrency commentator, stated that people are unsure and waiting to see what happens next, such as the US Crypto Summit. It is anticipated that over 25 people, including members of the Presidential Working Group on Digital Assets, will attend the White House Crypto Summit on March 7.

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