The cryptocurrency Fear and Greed Index finally crawled out of the "Fear" zone on Sunday, returning to neutral for the first time in over two weeks, as Bitcoin's price surged back to around $115,000 over the weekend.
The cryptocurrency Fear and Greed Index, which measures overall market sentiment, is currently in the "Neutral" zone with a score of 51 (out of 100).
This is an 11-point increase from Saturday's Fear score of 40 and more than a 20-point rise from last week, marking a sharp shift in sentiment over the past few days.
After Trump announced tariffs on China on October 10, the index plummeted from a "Greed" score of 71 to an annual low of 24, with $19 billion in cryptocurrency leveraged positions being liquidated.
According to Bitcoin analysis platform Glassnode, the shift in sentiment has coincided with a recent decrease in Bitcoin selling pressure.
In a post on X on Sunday, Glassnode hinted that a trend reversal is brewing, as selling pressure and negative sentiment seem to have reached extreme peaks.
"For the first time since the crash on October 10, the CVD (Cumulative Volume Delta) for spot and futures has flattened, indicating that aggressive selling pressure has subsided over the past few days," the post stated, adding:
Looking ahead to other potential bullish indicators, the market seems to anticipate that the U.S. Federal Reserve will cut interest rates again at the meeting on October 29.
As of the time of writing, CME Group's FedWatch shows a 96.7% probability that the Fed will cut rates by 25 basis points this week.
Related: The October 11 crash was just digging a hole: the real plot is the 401(k) entry.
Original article: “Bitcoin (BTC) Returns to $115,000, Crypto Market Sentiment Says Goodbye to 'Fear' and Returns to Neutral”
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