Bitcoin Rebounds After Rough Week, But Traders Are Pricing In More Downside

The crypto markets are breathing today, with the total capitalization up 2.1% to $2.89 trillion on Friday. The bounce recovers only part of the damage, since the market stood above $3 trillion a week ago, when Bitcoin was pressing against its yearly high. Despite the recovery, traders are still nervous. The Fear & Greed Index dropped to 56, a neutral reading, down from the 71 that put sentiment firmly in “greed” territory on October 2. Wall Street is also nervous.