As Ethereum (ETH) and Bitcoin (BTC) continue to struggle with major resistance levels, the crypto sentiment index “Fear and Greed Index“Neutral” is back in the zone.
According to the estimate shared by Alternative, the “Fear and Greed” index, which measures the sentiment of cryptocurrencies for the first time since April 6, 2022, is at 46/100. While still below 50/100, analysts rate this metric as “Neutral.”
After the great collapse after the collapse of the Terra (LUNA) ecosystem, Bitcoin, which managed to recover its price, also managed to record an improvement in the indices. In June 2022, the index briefly dropped to 6/100, marking a level of fear not seen in years. Just a week ago, the index was at 30/100.
Bitcoin Fear and Greed Index is 46 – Neutral
Current price: $24.406 pic.twitter.com/alELML0cVE— Bitcoin Fear and Greed Index (@BitcoinFear) August 13, 2022
Yesterday, Bitcoin (BTC) tried to retrace the $25,000 level for the first time in two months. The biggest altcoin Ethereum (ETH) has pleased its investors by climbing above $2,000. Investors who managed to buy BTC and ETH from the bottom in June 2022 had the opportunity to make a profit of 40% and 100% in total.
In recent days, the sentiment of the crypto market has been quite positive as many investors are expecting prices to increase after the Consolidation update by the Ethereum (ETH) mainnet. This game-changing event is expected to take place on September 15.
Trader Avi Felman warned that this enthusiasm could be dangerous. Typically, big rallies don’t happen right after a major technology upgrade, according to the Trader. Arthur Hayes expects the price to skyrocket.
You can follow the current price action here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.