Bitcoin Plummets to Historic Low, Fears of Further Decline Linger

The cryptocurrency market is experiencing a significant downturn, with Bitcoin's price dropping 7.5% this week. The Crypto Fear and Greed Index, which measures investor sentiment, has reached an all-time low of 5 out of 100, indicating extreme fear among investors.

Several analysts have pointed to historically low RSI levels, suggesting that Bitcoin may be approaching oversold territory. This has led some to speculate that the current price decline may be near its bottom, while others warn of potential further volatility.