The Bitcoin Fear and Greed Index indicates rising fear among investors, potentially turning the $60K – $61K range into resistance rather than support. Bitcoin briefly surpassed $60K but has since fallen below, trading at $59.8K. The market sentiment has shifted to fear, influencing investor behavior and price movements. Historical data suggests that extreme fear often correlates with price bottoms, prompting new investors to enter the market. However, current moderate fear levels could lead to further price declines if short-term holders decide to sell. Analysis indicates that exits by short-term holders typically signal a market top and subsequent price drop. Long-term holders play a crucial role in determining whether $60K will become a solid support level or not, with their actions potentially reversing the current bearish trend.