Bitcoin Heads for Rare Red Year as Market Sentiment Hits Extreme Fear

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Bitcoin is on track to end the year in the red, down nearly 9% since Jan. 1 and trading around $87,000, according to market data. Analyst PlanC noted that Bitcoin has never posted two consecutive red yearly candles, raising questions about whether the recent decline truly marks a bear market.

Market sentiment has remained weak throughout December. The Crypto Fear & Greed Index recently fell to 20 out of 100, placing sentiment firmly in “extreme fear” territory for more than two weeks.

The downturn contrasts sharply with bullish forecasts earlier this year that predicted Bitcoin could reach $250,000 by year-end.

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fear & greed index at 20 = everyone panicking, me included