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Bitcoin Key Metric Suggests Bull Cycle is Over: Should You Sell Now?

A crucial metric that measures the strength of Bitcoin's bull cycle has turned bearish, sparking concerns that the current upswing may be coming to an end. The metric in question is the Bitcoin Fear & Greed Index, which has plummeted to levels last seen during the 2018 bear market.

The index, which tracks market sentiment by analyzing factors such as Google search trends, social media activity, and Bitcoin's price movement, has fallen to a reading of 33, indicating extreme fear among investors. This is a stark contrast to the peak levels of 71 recorded in December, when the market was experiencing a period of intense euphoria.

The sudden shift in sentiment has led many to speculate that the bull cycle may be coming to an end. According to some analysts, the current market conditions are reminiscent of those seen during the 2017-2018 bear market, when Bitcoin's price plummeted from nearly $20,000 to around $3,000.

While some are calling for investors to sell their Bitcoin holdings, others believe that the market is simply experiencing a normal correction after a prolonged period of growth. According to this view, the current downturn is an opportunity for investors to accumulate more Bitcoin at a discount, rather than a reason to panic and sell.

The debate is likely to continue in the coming days, as investors and analysts alike try to make sense of the market's sudden shift. One thing is certain, however: the Bitcoin Fear & Greed Index will continue to be closely watched as a key indicator of market sentiment and potential market direction.