Bitcoin price hovered above $87,000 today as market sentiment and the Crypto Fear and Greed Index plunged to 11 out of 100, a level signaling extreme fear among investors.

At the time of writing, the bitcoin price is trading at $87,696, up roughly 2% over the past 24 hours, according to market data. Despite the modest rebound, BTC remains trapped in a choppy consolidation range, sitting just 0.2% below its seven-day high of $87,918 and 2% above its weekly low near $85,575.

Yesterday, the bitcoin price cratered from close to $90,000 to the mid $85,000s.

Trading volume over the past day totaled approximately $51 billion, suggesting continued participation but little conviction on either…

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