BTC Fear and Greed Signals Strength
On Sunday bitcoin reached a mark of 52 on the Fear and Greed Index, an indicator of market sentiment; the higher the number the more confidence (or ‘greed’) investors are said to have. Fear and Greed Index tracker alternative.me records the following historical data:
Image source: alternative.me
The uptrend is most notable in the BTC options market where resistance between bulls and bears is measured. Currently, bulls are overtaking bears as the BTC price moves back toward ‘greed’ after a 3-month stretch in which bitcoin remained between 25 and 30 on the index. At time of writing it sits at 45.
The price of bitcoin also broke $21,000 over the weekend, completing a chart ‘smile’, regaining an upward trend of almost $4,000 on January 13 for the first time since losing about $5,000 on Nov 8-9, 2022.
