Market Wrap: Bitcoin Declines as Indicator Shows Rally Could Lose Steam

Market Wrap: Bitcoin Declines as Indicator Shows Rally Could Lose Steam
Bitcoin’s price dipped below $57,000 on Tuesday as analysts said the extreme buying in the market could mean the rally may soon be running out of steam. They pointed to the bitcoin Fear & Greed Index, which entered “extreme greed” territory last week and is at the highest level since early September, which preceded a sharp sell-off in bitcoin.Comments from J.P. Morgan CEO Jamie Dimon at a conference on Monday contributed to a sour mood across crypto markets. Dimon stated that governments will regulate bitcoin, which he personally thinks is “worthless.”On the regulatory front, “China’s domestic energy and power crunch…