Bitcoin fear hits August lows – Why BTC traders are watching $73K

Fear across the market following the recent Binance hack is understandable. In just 24 hours, market sentiment has taken a sharp hit. The Fear & Greed Index has fallen to its lowest point since mid-August to 30 (Fear) from 51 (Neutral). This comes amid the $6.3 billion Binance exploit, adding pressure to an already weak market. Bitcoin dropped 4-5%, touching a six-week low near $76,500 and Ethereum falling below $2,200. Meanwhile, over $1.6 billion in positions were liquidated on the market. Against this backdrop, AMBCrypto's latest report starts to make more sense.