As Bitcoin and other digital assets are recovered, the data show that the sentiment among cryptocurrency investors has returned to the state of greed.
Bitcoin Fear & Greed Index indicates greed again
“The indicator of fear and greed” refers to the indicator made by Alternative This measures the net moods possessed by the average trader in Bitcoin and wider cryptocurrency spaces.
The index uses the data of the following five factors to determine the market moods: trading in the volume of rotation, variability, domination of market capitalization, social media moods and Google trends.
The record represents the calculated mentality as a result lying between 0 and 100. The first end point corresponds to maximum fear, while the second to maximum greed.
Here’s what the index says about the current mood among investors:
Looks like the value of the metric is 65 at the moment | Source: Alternative
As shown above, the Bitcoin Fear & Greed index is 65, which suggests that traders currently have most of the moods of greed. This is a noteworthy change compared to yesterday, when the indicator sat at the age of 47, which means that the investor’s mentality was generally neutral.
The trend in the Fear & Greed Index over the past twelve months | Source: Alternative
The mood owner has previously dropped as a result of the geopolitical situation surrounding the conflict of Israel-Iran. After the arms suspension was announced between nations, prices reflected from them and it seemed that the investor’s mood took place with them.
Since then, the fire of the weapon has been violated, so it is possible that tomorrow’s index of fear and greed would be less stubborn. Having said that, Bitcoin kept surprisingly well despite the news, which may mean that the sentiment may remain the same.
Historically, BTC and digital assets were at all in the direction contrary to the expectations of investors. This means that too greedy market makes the best peaks, while an extremely terrifying one bottom.
Currently, the level of greed on the market is not very robust, but the fact that he has seen a significant jump next to the recovery can still be noted. In the script in which Hype is constantly growing in the coming days, another reversal may become more likely for Bitcoin and the company.
In some other messages, funds based at the American Bitcoin Spot (ETFS) point recorded net yesterday, June 23, as indicated by the Analytical Company Glassnode WX post.
The data for the netflows associated with the US spot ETFs | Source: Glassnode on X
As displayed in the graph above, the ETF in the Bitcoin Spot state recorded a net influx of about 598 BTC on that day, despite geopolitical tensions. “Although the influence was small, no major outflows were registered, which is a significant signal of the investor’s trust,” notes Glassnode.
BTC price
Bitcoin has already recovered outside the level at which he trades before immersion, because its price is now 106,000 USD.
The asset seems to have shot up during the past day | Source: BTCUSDT on TradingView
A distinguished painting with Dall-E, Glassnode.com, Alternative.Me, Chart from TradingView.com
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