The futures ETF, which will be released tomorrow in Bitcoin, and the rises that came before it increased the risk appetite of investors.
The “fear and greed index”, calculated by the popular analysis company, which tries to measure the emotional reflexes of crypto money investors, based on the trends of market volatility, market volume acceleration, social media interest, Bitcoin dominance graph and the types of research on cryptocurrencies on the internet, is 79 points out of 100 today. was calculated as. This data was 78 yesterday and 71 last week.
Although the increase in the rate of greed in the market creates the expectation of a correction, the fact that we are at a point close to Bitcoin’s ATH further highlights the possibility that the second rally is being prepared.
The greed of bitcoin and cryptocurrency investors means more unregulated buying in the hopes of higher returns, and prices skyrocketing. Although the market maker punishes this greed from time to time, investors also need to be greedy for the rallies to continue.
Because in the rally that Bitcoin started towards the end of 2020, we see that the “Fear and Greed” index was above the 80 levels for a period of 5 months and went up to 95.
The fact that the weekly close is above the previous peak will also whet the appetite of investors technically. Investors will watch tonight whether Bitcoin can stay above the weekly close at its previous high. This level crosses $60,000. The weekly closing will take place at 03.00 at night.
*Not Investment Advice.