Bitcoin (BTC) Fear and Greed Index from April 2022 for the first time since “Neutral” reached levels, and with this measurement, it created a wave of optimism among crypto enthusiasts.
Bitcoin (BTC) Fear and Greed Index Out of Fear for the First Time in 9 Months
This development came in the midst of Bitcoin’s recent rally, which led it to hit a 2-month high of $21,500 today.
The index, which rose to 51 points in the current situation, came out of fear after months.
After the fear and greed index dropped below 53 on April 5, it has remained in the “Fear” and “Extreme Fear” zones since then, as investor sentiment was more impacted by May’s Terra crash and November’s FTX boom.
The Fear and Greed index is an important indicator of market sentiment, and its recent shift into Neutral is a sign that market sentiment has turned bullish.
On the other hand, investors believe this could signal a more sustainable rally as confidence in the asset’s long-term prospects increases. Specifically, most investors expect BTC to reach $25,000 between January and March.
In addition, CryptoQuant data also shows an increase in bullish sentiments as stock market indicators shift into positive territory.
BTC Exchange Reserve reveals a gradual decline in Bitcoin’s reserve on exchanges, indicating lower selling pressure on investors.
Data from this metric is also supported by BTC Exchange Netflow, which shows a lower net flow.
However, due to the recent rise, FOMO (fear of losing the opportunity) should be avoided.
*Not investment advice.
For exclusive news, analytics and on-chain data Telegram our group, twitter our account and YouTube Follow our channel now! Moreover Android and iOS Start live price tracking right now by downloading our apps!