Bitcoin Fear & Greed Index sinks to 44 after sharp decline triggered by U.S. tariffs
Bitcoin’s price action has taken a sharp turn this week, erasing earlier gains and stirring concerns about a potential continuation of its bearish trend.
After reaching a nine-day high of $88,600, Bitcoin tumbled over 6% to $82,200 following U.S. President Donald Trump’s confirmation of new trade tariffs on April 2.
In Thursday trading session, April 3, Bitcoin has shown signs of recovery, climbing 1.74% in the Asian session and reaching $83,500 in European trading. However, sentiment remains cautious, as the price remains significantly below its recent highs. The Bitcoin Fear & Greed Index now stands at 44, reflecting a market sentiment of fear, though it is nearing neutral territory. This indicates that investors are hesitant, but not overwhelmingly bearish.
Bitcoin RSI at 46 suggests bearish momentum as price fails to hold recent highs
BTC price dynamics (Dec 2024 - April 2025). Source: Tradingview
From a technical perspective, Bitcoin’s 4-hour Relative Strength Index (RSI) has slipped into bearish territory following yesterday’s sharp decline. The RSI now sits at 46, just below the neutral level of 50, suggesting that further downside movement remains a possibility. If the price resumes its downward trajectory, Bitcoin could test the double-bottom support at $81,200, a critical level that may determine whether further selling pressure emerges.
On the upside, a sustained recovery could see Bitcoin challenge the broader bearish trendline at $86,600. Breaking above this level would be crucial for restoring bullish confidence and potentially paving the way for another attempt at the $88,600 resistance. However, until Bitcoin clears key resistance zones, traders are likely to remain cautious, especially with ongoing macroeconomic uncertainties influencing sentiment.
Overall, Bitcoin’s near-term outlook hinges on whether it can maintain its recovery momentum or if bearish pressure will drive prices toward key support levels. Investors will be closely watching upcoming economic developments and sentiment indicators to gauge the next directional move.
Reduced selling pressure on Binance supported Bitcoin’s price resilience. However, the rally stalled at $85,500, leading to a pullback to $84,300.
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