After a long time, it seems that the recovery in cryptocurrencies has started. While the Bitcoin price is based on the $25,000 limit, Fear and Greed Index entered the neutral zone after 17 weeks. Alright bitcoin and Ethereum What awaits the crypto market, especially the crypto market?
Bitcoin Fear and Greed Index is back in neutral territory
The upward movement continues in the largest cryptocurrency Bitcoin. According to data on Friday and Saturday, Bitcoin is up around 1.96 percent. While BTC is still below $25,000, it has managed to stay at $24,000 support for the first time since June 12.
While the increase in Bitcoin continued, there was a first in 17 weeks in the Fear and Greed Index. Seeing $24,000 BTC in Fear Index Increased from 42/100 to 46/100. This rise allowed the popular cryptocurrency to enter the neutral zone. The higher score in the index reflects investors’ confidence in BTC and consumer sentiment.
The collapse in cryptocurrencies exploded at NVIDIA!
The recent decline in cryptocurrencies seems to have negatively affected NVIDIA as well. The company did not meet expectations in the second quarter.
Bitcoin, which fell to the level of $ 23,600 the other day, is currently hovering around $ 24,510. This level, on the other hand, indicates that BTC saw $ 24,000 for the first time in about two months.
Bitcoin, which was in the neutral zone for the last time on April 6, is supported by the inflation expectation figures of the USA. Especially the small investors prefer cryptocurrencies such as Bitcoin instead of dollars, causing the price to increase.
It is thought that the fluctuations in cryptocurrencies have stopped. The fact that Bitcoin is increasing step by step and is based on 25 thousand dollars is also an indicator of this. However, economists say there are two major resistance points for Bitcoin ($25,010 and $25,500). BTC’s downtrend also should not be overlooked.
So what do you think about the Bitcoin Fear and Greed Index? You can share your views with us in the comments section.