1 hour ago
The crypto sentiment indicator has moved up from utmost fear, and different societal media indicators suggest sentiment is moving much bullish toward Bitcoin.
After 18 days astatine the bottommost of a wide utilized crypto marketplace sentiment index, the marketplace appears to beryllium showing aboriginal signs of improving sentiment.
The Crypto Fear & Greed Index, which measures wide crypto marketplace sentiment, posted a “Fear” people of 28 connected Saturday, the archetypal clip since Nov. 10 that it hasn’t posted an “Extreme Fear” score.
The prolonged agelong adjacent the index’s astir bearish level for the bulk of November, historically Bitcoin’s (BTC) best-performing period connected average, did not spell unnoticed by the broader crypto community.
“Extreme Fear” readings person typically marked bottoms, says trader
On Nov. 15, crypto expert Matthew Hyland pointed retired that the scale was astatine the “most utmost fearfulness level” of the full cycle. “A way similar this for BTC Dominance would present beryllium max pain,” Hyland said astatine the time. Just days later, connected Nov. 23, crypto expert Crypto Seth said, “Extreme Fear is an understatement.”
However, crypto trader Nicola Duke said that each clip utmost fearfulness has been connected the index, it has marked a “local bottom” for Bitcoin.
The Crypto Fear & Greed Index posted a “Fear” people of 28 connected Saturday. Source: alternative.meOther indicators person since suggested that sentiment whitethorn beryllium recovering. Crypto sentiment level Santiment said connected Wednesday that Bitcoin was showing “generally bullish sentiment” aft Bitcoin climbed backmost to astir $92,000, citing its societal media bullish-to-bearish sentiment indicator.
Crypto marketplace inactive appears to beryllium successful risk-off mode
Santiment said that marketplace discussions surrounding Bitcoin connected societal media person focused connected terms volatility, and organization activity, including ETFs and treasury purchases.
Related: BTC terms pauses astatine $92K: Can Bitcoin debar different crash?
However, crypto marketplace participants inactive look to beryllium hesitant and successful risk-off mode, according to CoinMarketCap’s Altcoin Season Index, which presently sits firmly successful “Bitcoin Season” with a people of 22 retired of 100 — a metric that oscillates betwixt Altcoin and Bitcoin play readings.
On Friday, Bitwise Europe's caput of research, André Dragosch, said Bitcoin’s price has been misaligned owed to a misreading of the broader macroeconomic outlook, peculiarly increasing expectations of an upcoming recession.
“The past clip I saw specified an asymmetric risk-reward was during COVID,” Dragosch said.
Magazine: When privateness and AML laws conflict: Crypto projects’ intolerable choice
English (US) 