Bitcoin fear and greed index shows ‘extreme greed’: Will this drive a bull run?
- Bitcoin confirmed sturdy bullish alerts, with excessive dominance and investor confidence at an excessive stage.
- Bullish tendencies confirmed indicators of continuous, however volatility dangers remained on account of trade behaviors.
Bitcoin [BTC] continues to point out sturdy bullish indicators, with the Worry and Greed Index reaching an excessive greed stage of 83. This means excessive investor confidence and rising optimism out there.
At press time, Bitcoin traded at $98,503.78, down 0.85% within the final 24 hours. Whereas this means a powerful bullish development, it raises questions on Bitcoin’s potential to maintain this momentum or face a market correction.
Bitcoin concern and greed exhibits…
Bitcoin dominance was 54.5% on the time of writing, reflecting its important affect over the general crypto market. Nonetheless, it noticed a each day drop of -3.5%, which signifies a possible shift in altcoin curiosity.
This means that different cryptocurrencies could be gaining power, which may influence Bitcoin’s dominance within the coming days.
Due to this fact, intently monitoring Bitcoin dominance will present perception into market tendencies and any attainable modifications in dominance dynamics.
Supply: CoinMarketCap
A surge in investor optimism
Bitcoin’s Community Worth to Transaction (NVT) golden cross skilled a notable 7.84% one-day surge, reaching 2.6. This surge signifies a rising investor curiosity in Bitcoin’s valuation in comparison with transaction quantity.
Such a rise sometimes signifies bullish sentiment and a extra assured market outlook. Moreover, it means that Bitcoin’s community metrics may entice extra traders, which might additional drive costs upward.
Supply: CryptoQuant
THIS boosts bullish sentiment
Bitcoin’s transaction rely noticed a each day improve of 0.94%, reaching 428.184k transactions. The rise in exercise highlighted a extra energetic BTC community and better engagement amongst customers.
Such exercise indicated stronger investor curiosity and the next probability of continued bullish tendencies.
Due to this fact, the next transaction rely strengthened Bitcoin’s place out there and helps the general bullish outlook.
Supply: CryptoQuant
Investor confidence grows
Bitcoin trade reserves dropped by 0.04% in 24 hours, now at 2.4573 million BTC at press time.
This development exhibits that BTC holders are more and more shifting their belongings off exchanges, probably into wallets or long-term storage. Such a transfer decreases the promoting stress in the marketplace and strengthens bullish sentiment.
Supply: CryptoQuant
Bullish traders maintain regular
Bitcoin’s Lengthy/Brief Ratio was 47.31% lengthy and 52.69% quick, leading to a ratio of 0.8979. These numbers confirmed that quick sellers nonetheless have a slight benefit, however the excessive lengthy curiosity displays sturdy bullish sentiment.
Due to this fact, BTC stays resilient, with a optimistic outlook regardless of market fluctuations.
Supply: Coinglass
Bitcoin’s Worry and Greed Index at 83 suggests a particularly bullish market outlook.
Learn Bitcoin’s [BTC] Worth Prediction 2024–2025
Nonetheless, with current metrics displaying a mixture of positive factors and drops throughout dominance, transaction counts, and trade reserves, a correction stays attainable.
Due to this fact, Bitcoin may proceed its bullish run if present tendencies maintain, however merchants ought to stay vigilant about potential market volatility.
