TechFlow news, on February 28, according to Cointelegraph, Charles Edwards, founder of cryptocurrency investment fund Capriole Investment, said that with Bitcoin's price hovering below $83,000 and market sentiment remaining fearful, Bitcoin may be approaching the bottom of this cycle. Edwards stated: "Some macro data still performs poorly, but given the current significant fear levels and scale of liquidations, I wouldn't be surprised if we're forming a near-term local bottom."
Although the Crypto Fear & Greed Index hit a two-year low of 10 on February 26, indicating "extreme fear," Edwards said he does not pay much attention to this indicator, preferring instead the CNN Fear & Greed Index and the American Association of Individual Investors (AAII) sentiment survey. On February 27, the Crypto Fear & Greed Index rose six points to 16, still within the "extreme fear" range, while Bitcoin's price showed no signs of a near-term recovery.
