Despite rebound there is “extreme fear”

Bitcoin price crouches under a crucial area of ​​resistance as Axie Infinity AXS Token soars to new heights. The market update.

The Bitcoin price can continue to recover from its drop below the 30,000 USD. At press time, BTC is trading at $ 32,580 – around 2.6 percent higher than yesterday. Within the last 24 hours, the price of the cryptocurrency fluctuated between USD 31,716 and the preliminary daily high of USD 32,876.

Bitcoin course: Strong resistance remains intact

The key resistance in the area around 32,712 USD diagnosed in the current Bitcoin price analysis has not yet been overcome clearly enough. A trend reversal can therefore still not be ruled out – even if massive interest on the part of buyers had recently shown at USD 30,000.

BTC / USD on the 15-minute chart. Source TradingView

Accordingly, the mood on the market remains suspicious. So could he Fear & Greed Index has gained a few points since the Bitcoin rebound, but the sentiment remains in the area of ​​“extreme fear”. After all: in a 30-day comparison, the mood has brightened significantly. the Fear & Greed Index Calculated from multiple sources, including Google Trends, Bitcoin dominance and price dynamics, and Twitter interactions.

Fear & Greed Index. Source:

Altcoin rally: Axie Infinity is back

While Bitcoin remains exciting, Axie Infitiy (AXS), one of the most noticeable representatives from the NFT sector, continues its course rollercoaster ride. With a growth of around 33 percent, the AXS token dominates the ranks of the biggest price winners within the top 100. At the time of writing, AXS is trading at $ 31.68, a whopping 880 percent higher than it was 30 days ago. In addition, AXS has set a new all-time high of USD 32.10 in the past 24 hours.

The NFT game’s soaring recently took a hit when its servers crashed due to enormous demand. On July 17, the project published a statement in which more than 500,000 daily active users were mentioned. Now the project has enlarged its IT department and is also expanding its support system. In addition, users were advised that this was still an alpha product that had not yet landed in the Google and Apple app stores for good reason.

Nonetheless, the Axie community is starting to grow significantly. On the 23rd, the project received its verification on Discord, which means that the membership numbers for the Discord channel Axie Infity are no longer capped. It currently has an impressive 604,749 members. “The biggest Discord channel of all time is coming,” exults the team via Twitter.