Category: Cryptocurrency News

Bitcoin’s drop to $56,500 crushed bullish traders’ sentiment and took a heavy toll on altcoin prices but are generational buying opportunities emerging?

submitted by /u/KTM007 [link] [comments]

Data shows that Bitcoin sentiment has cooled off to neutral from greed following the asset’s latest plunge to the $57,000 level. Bitcoin Fear & Greed Index Has Returned To Neutral Levels The “Fear & Greed Index” is an indicator created by Alternative that shows the average sentiment among investors in the Bitcoin and wider cryptocurrency market. This index estimates sentiment by considering five factors: volatility, trading volume, social media data, market cap dominance, and Google Trends. Related Reading: Bitcoin To $92,190: Crypto Analyst Reveals Path To ATH Target The metric uses a scale that runs from zero to 100 to represent this average sentiment. All values under 46 suggest that investors are fearful, while those above 54 imply a greedy market. The zone between these two cutoffs naturally corresponds to the territory of neutral mentality. Now, here is what the Bitcoin sentiment looks like right now, according to the Fear & Greed Index: The value of the metric appears to be 54 at the moment | Source: Alternative As displayed above, the Bitcoin Fear & Greed Index is at a value of 54, implying that investors share a neutral sentiment currently. However, the neutrality is only just, as the metric is right at the boundary of the greed region. This is a significant departure from yesterday’s sentiment: 67. The chart below shows how the indicator’s value has changed recently. The trend in the Fear & Greed Index over the past year | Source: Alternative As the graph shows, the Bitcoin Fear & Greed Index has been declining recently. For most of February and March, as well as the first half of April, the indicator was in or near a special zone called extreme greed. The market assumes this sentiment at values above 75. As the asset price struggled recently, the mentality cooled off from this extreme zone and entered the normal greed region. With the latest crash in BTC, the index has seen a sharp plunge, now exiting out of greed altogether. Historically, cryptocurrency has tended to move against the majority’s expectations. The stronger this expectation, the higher the probability of such a contrary move. This expectation is considered the strongest in extreme sentiment zones, as well as extreme fear and greed. As such, major bottoms and tops have often occurred in these territories. Related Reading: Bitcoin Dominance: Traders Preferring The OG To Dogecoin & Other Altcoins The all-time high (ATH) price last month, which continues to be the top of the rally so far, also occurred alongside extreme values of the Bitcoin Fear & Greed Index. With the sentiment now cooled to neutral, some investors may be watching for a fall into fear. This is natural because a rebound would become more probable the worse the sentiment gets now. BTC Price During Bitcoin’s latest plunge, its price briefly slipped below $57,000 before surging back to $57,300. Looks like the price of the asset has registered a sharp drop over the past two days | Source: BTCUSD on TradingView Featured image from Kanchanara on Unsplash.com, Alternative.me, chart from TradingView.com

The Market has been in a downtrend for most of April, giving us a much needed breather after half a year of relentless upside movement. Part 3 of this series was much appreciated (here's your update, u/october45!), so I'll go ahead and check out different sources of Market Risk and put them together for you…
Read more

On Tuesday, U.S. spot bitcoin exchange-traded funds (ETFs) registered their fifth consecutive day of net withdrawals, documenting a substantial $161.6 million in negative outflows. Over the last two days, Grayscale’s Bitcoin Trust (GBTC) has offloaded 1,731.56 BTC, diminishing its reserves to 296,713.90 BTC. Bitcoin ETFs Continue to See Persistent Outflows Since April 24, 2024, U.S. […]

Meme coin fans think “serious” crypto investors are mid-curving it. Serious crypto investors think meme coin fans are idiots.

While the current correction remains in line with historical price corrections, Bitcoin could briefly fall to the $50,000 mark after losing the average ETF inflow mark of $59,000.

Hi y'll, I am new to investing in crypto. (never invested in stock market also). I was told by a friend to invest 50% of my funds in Ethereum/25% in BTC and 25% in sol. Do you all think it is good idea? could you all please tell me how to start making investment from…
Read more

OK so I have a bit of USDC & ETH on Tokensets still. I don't recall ever getting a seed to the wallet balance there – I know Tokensets is sort of decentralizing. Is the balance on Tokensets.com lost if I have no prior seed & never connected a wallet there or is there still…
Read more