SURGE increased by 50.36% after launching Alpha, current price is 0.1304 USDT

Cryptocurrency panic index drops to 10, hitting an all-time extreme. Is the BTC market approaching a bottom signal?

Cryptocurrency Fear and Greed Index drops to 10, indicating extreme market panic and weakened investor confidence. Market volatility increases, macroeconomic pressures and negative public opinion drive panic higher. Although historically, low levels of this index often signal market bottoms, if macroeconomic conditions worsen, crypto assets may still face downward pressure.

Analysis: The bears are not enough to quickly "break 6 and see 5" for BTC. The $64,500 support will be reaffirmed after the US stock market opens.

Bitcoin analyst Murphy pointed out that when the price approaches the historical average turnover cost of $64,500, market sentiment reaches a limit. Recently, Bitcoin has repeatedly fallen below this cost line but quickly rebounded, indicating strong bullish resistance. As the focus shifts from US-Iran geopolitical conflicts, it is expected to have a significant impact on crude oil prices, and in the short term, the bearish forces are insufficient to quickly push prices down.

Saudi Arabia Shuts Ras Tanura Refinery After Iran Drone Strike

Saudi Arabia’s energy sector faced fresh tension on March 2. After reports of an Iranian drone strike targeting the massive Ras Tanura refinery. The facility is one of the world’s largest oil processing hubs. It handles around 550K barrels per day. Early reports say operations were halted as a