{"id":33363,"date":"2026-10-31T14:15:03","date_gmt":"2026-10-31T14:15:03","guid":{"rendered":"https:\/\/investx.fr\/en\/2026\/10\/31\/bitcoin-fear-index-73000-support-analysis\/"},"modified":"2026-10-31T14:15:09","modified_gmt":"2026-10-31T14:15:09","slug":"bitcoin-fear-index-73000-support-analysis","status":"publish","type":"post","link":"https:\/\/investx.fr\/en\/crypto-news\/bitcoin-fear-index-73000-support-analysis\/","title":{"rendered":"Bitcoin: Fear Returns to August 2024 Levels as Traders Eye the $73,000 Support"},"content":{"rendered":"\n

Sentiment across the Bitcoin<\/strong> market has just shifted. The Fear & Greed Index<\/strong> has dropped to levels last seen in August 2024 \u2014 a period marked by a brutal correction<\/strong> that rattled the entire crypto market.<\/p>\n\n\n\n

Meanwhile, one price level is commanding the full attention of traders: $73,000<\/strong>. This threshold is far from arbitrary \u2014 it corresponds to Bitcoin’s former all-time high<\/strong>, now transformed into a critical support zone<\/strong>.<\/p>\n\n\n\n

Should this be read as a warning signal, or is the market quietly building an opportunity? On-chain data<\/strong> and technical indicators<\/strong> offer some answers.<\/p>\n\n\n\n

The Fear & Greed Index Dives Again: What Market Sentiment Is Really Telling Us<\/h2>\n\n\n\n

The Fear & Greed Index<\/a><\/strong> from CoinMarketCap<\/strong> \u2014 which aggregates volatility, volume, social media activity, and market dominance \u2014 has just flipped back into fear territory. This level had not been reached since August 2024, when Bitcoin<\/a><\/strong> plunged below $50,000<\/strong> in a matter of days, dragged down by the Japanese yen carry trade crisis<\/strong>.<\/p>\n\n\n\n

This return of fear reflects growing nervousness among investors in the face of several simultaneous pressures: persistent macroeconomic uncertainty<\/strong>, selling pressure from miners<\/strong>, and capital outflows<\/strong> recorded across certain US spot Bitcoin ETFs<\/strong>. Data from CoinGlass<\/strong> also shows a rise in short positions<\/strong> on major derivatives exchanges, signalling that traders are positioning for a continued short-term correction.<\/p>\n\n\n\n

Historically, episodes of extreme fear<\/strong> around Bitcoin<\/strong> have often preceded significant rebounds<\/strong> \u2014 but not always. In August 2024, the market took several weeks to regain its bullish trajectory. Caution remains warranted, particularly when buying volume<\/strong> is failing to confirm any meaningful reversal.<\/p>\n\n\n\n

\"Bitcoin<\/figure>\n\n\n\n

$73,000: Why This Level Is the Last Line of Defence Before a Major Correction<\/h2>\n\n\n\n

The $73,000<\/strong> threshold is drawing intense focus for a structural reason: it marks Bitcoin’s former all-time high<\/strong>, reached in March 2024. In classic technical analysis<\/strong>, a previous ATH that has been broken to the upside becomes a major support level<\/strong> during retracement phases. That is precisely the scenario traders are watching closely right now.<\/p>\n\n\n\n

On-chain data<\/strong> from CryptoQuant<\/strong> indicates that this zone holds a significant concentration of unliquidated long positions<\/strong>, making it a high-density support level<\/strong>. A weekly close<\/strong> below this level would send a strong bearish signal<\/strong>, likely accelerating liquidations and pushing price toward the next support zones around $68,000<\/strong> to $65,000<\/strong>.<\/p>\n\n\n\n

Conversely, holding above $73,000<\/strong> with a volume-confirmed bounce<\/strong> could reignite the bullish momentum<\/a><\/strong> and reopen the path toward $80,000<\/strong> and then $85,000<\/strong>. The upcoming weekly closes<\/strong> will be decisive in determining which of these two scenarios plays out.<\/p>\n\n\n\n

What On-Chain Data Reveals About Holder Conviction<\/h2>\n\n\n\n

Beyond price action<\/strong>, on-chain metrics<\/strong> shed valuable light on the behaviour of long-term holders<\/a><\/strong>. According to CryptoQuant<\/strong> data, the profit\/loss ratio of active addresses<\/strong> remains positive, indicating that the majority of holders are still sitting on unrealised gains \u2014 a factor that mechanically limits panic selling pressure<\/strong>.<\/p>\n\n\n\n

The MVRV Z-Score<\/strong>, an indicator that compares realised market capitalisation<\/strong> to market capitalisation<\/strong>, currently sits in a neutral to slightly overvalued zone. This signal suggests the market has not yet entered extreme bubble territory<\/strong>, but equally does not offer the conditions of a deeply discounted entry typical of cycle bottoms<\/strong>.<\/p>\n\n\n\n

Exchange inflows<\/strong> remain moderate according to Glassnode<\/strong>, meaning that large holders \u2014 the well-known whales<\/strong> \u2014 do not yet appear to be in full distribution mode<\/strong>. An ambiguous signal, which leaves the door open to stabilisation, provided the $73,000<\/strong> support holds against the selling pressure of the coming days.<\/p>\n\n\n\n

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