Bitcoin's longest 'extreme fear' streak finally breaks
After 73 days of "extreme fear" on the Crypto Fear and Greed Index, investors can breathe a very small sigh of relief.
New
Bitcoin (BTC) finally escaped the 'extreme fear' zone after 73 days on Tuesday, coinciding with a 19% weekly rise in bitcoin (BTC) as bulls return to the market.
The Crypto Fear and Greed Index went from “extreme fear” to simply “scary” on July 19, reaching a score of 30 out of 100. It has since increased slightly to the current score of 31.
The index analyzes the current sentiment of the overall crypto market, with a score between 0 and 100. The index is based primarily on Bitcoin market volatility, volume and dominance, social media sentiment , surveys and search trend data.
On-chain metrics company Santiment on Twitter noted that traders are "changing their tune" and starting to look towards a long-term cryptocurrency breakout.
According to the company, the average funding rate of BTC on exchanges has reached its highest levels in the past two months, with the price of BTC exceeding $23,600, which could indicate that a level of fear of missing out (FOMO) is present.
Traders shift tone and sense long-term breakout after dominant #Bitcoin Tuesday. With the #1 #crypto market cap asset surging, the ratio of $BTC #longs to #shorts is at its highest level since early May. Watch #FOMO. https://t.co/4PcBhoKywd pic.twitter.com/dSPmazk1S1
— Santiment (@santimentfeed)
After 73 days of "extreme fear" on the Crypto Fear and Greed Index, investors can breathe a very small sigh of relief.
New
Bitcoin (BTC) finally escaped the 'extreme fear' zone after 73 days on Tuesday, coinciding with a 19% weekly rise in bitcoin (BTC) as bulls return to the market.
The Crypto Fear and Greed Index went from “extreme fear” to simply “scary” on July 19, reaching a score of 30 out of 100. It has since increased slightly to the current score of 31.
The index analyzes the current sentiment of the overall crypto market, with a score between 0 and 100. The index is based primarily on Bitcoin market volatility, volume and dominance, social media sentiment , surveys and search trend data.
On-chain metrics company Santiment on Twitter noted that traders are "changing their tune" and starting to look towards a long-term cryptocurrency breakout.
According to the company, the average funding rate of BTC on exchanges has reached its highest levels in the past two months, with the price of BTC exceeding $23,600, which could indicate that a level of fear of missing out (FOMO) is present.
Traders shift tone and sense long-term breakout after dominant #Bitcoin Tuesday. With the #1 #crypto market cap asset surging, the ratio of $BTC #longs to #shorts is at its highest level since early May. Watch #FOMO. https://t.co/4PcBhoKywd pic.twitter.com/dSPmazk1S1
— Santiment (@santimentfeed)What's Your Reaction?
