The BTC Price Exceeds $18,400

"The current correction BTC is experiencing has briefly brought the price of the crypto below $18,000, however, this situation has been short-lived as buyers have once again pushed the benchmark crypto above this level. The momentum has also been fairly modest, enough to push Bitcoin to $18,300, where it has started to fall slightly.

As a result, it can be assumed this is not the first wave of correction and big capital is waiting for the opportunity to enter the market at a higher discount. Retail investors will also adopt this approach.

The whole market has seen how the crypto did not collapse after approaching the $20,000 mark. There was even a possibility that it was going through a consolidation process. Even though technical indicators pointed to overbought and reversal, this started due to the absence of the FOMO near the $20,000 level.

What can we expect from Bitcoin and the whole crypto market next? We will likely witness a halt in growth as well as a setback in the path of the currency towards $20,000. Judging by the extremely cautious asset sales, the level of optimism remains very high, while in the short term after the current downturn we may see a jump in demand, which will become yet another brick in the wall of the Bitcoin growth.

Over the past 24 hours, the greed and fear index for Bitcoin and the largest cryptos has again added 8 points to 94, which corresponds to the 'extreme greed' area and indicates the approach of the second wave of decline."