Bitcoin ‘Extreme Greed’ Is Almost Here: Price Bottom Now Close?
Data shows the Bitcoin sentiment is close to entering into the extreme greed zone. Here’s what this could mean for the cryptocurrency’s price. Bitcoin Fear & Greed Index Has Continued To Decline Recently The “Fear & Greed Index” is an indicator developed by Alternative that tells us about the average sentiment that traders in the Bitcoin and wider cryptocurrency market currently share. The index uses five factors to determine this sentiment: volatility, trading volume, social media, market cap dominance, and Google Trends. The metric uses a numeric scale that runs....
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Data shows the Bitcoin market sentiment is still quite close to the extreme greed zone, a potential sign that a further price cooldown may be needed before a bottom. Bitcoin Fear & Greed Index Still Has A High Greed Value The “Fear & Greed Index” refers to an indicator created by Alternative that tells us about the average sentiment among investors in the Bitcoin and wider cryptocurrency markets. The index uses a numeric scale that runs from zero to hundred for representing this mentality. Its value being greater than 53 means the investors as a whole are showing greed, while....
People are wondering when and at what price bitcoin will bottom and there are many opinions on this matter. This article will not explore a certain price or date when bitcoin will bottom but some of the characteristics that need to be shown to know that a real bottom in place. Instead, this article will explore the concepts of panic selling and capitulation as well as what a bottom will look like if these things occur. To date, you have not seen either of these things play out in the bitcoin price, as the selling has been very orderly for quite a while. Essentially, capitulation comes from....
On-chain and crypto exchange data show pro traders feel less confident about Bitcoin’s bullish momentum under the $15.5K level. Typically, traders become skeptical after Bitcoin (BTC) ‘completes’ a strong performance like the stellar move from $12,000 to $15,950 seen over the past few weeks. The 35% gain over the past 30 days led some traders to conclude that BTC is over-extended and in need of a pullback. On the other hand, there are plenty of traders who are confident that the current bull run can continue.Generally, the market is displaying mixed signals as Bitcoin price fluctuates....
Bitcoin’s sell-off this week has reignited the question of whether the market has already printed a local bottom. Chris Kuiper, CFA, VP of Research at Fidelity Digital Assets, argues that several on-chain and sentiment gauges now resemble prior bull-market corrections, while stressing that nothing is certain. “I as well as anyone never knows for sure,” Kuiper wrote on X, “but one chart I do like to use to help gauge the probabilities is the short-term holder MVRV chart along with their cost basis.” Is The Bitcoin Bottom In? The Glassnode chart he shared tracks Bitcoin against the realized....
On-chain indicators focusing on Bitcoin's fair valuation and long-term holders' sentiment also raise its prospects of bottoming out. Bitcoin (BTC) has fallen by over 67% in 2022 and is now wobbling between a tight trading range defined by $28,000 as interim support and $30,500 as interim resistance.The selloff appears in the wake of the Federal Reserve's hawkish policy and the uncertainties in the crypto market led by Terra, an algorithmic stablecoin project whose native token LUNA fell by 99% earlier in the month. Nonetheless, Bitcoin's decline has somewhat cooled down as May draws to a....