After 13 days in an ‘excessive greed’ part of Bitcoin euphoria, the drop to $61,000 has pushed investor sentiment again into plain ‘greed,’ in keeping with Coinglass. As of press time, Bitcoin is buying and selling at $63,700, simply 13% down from its all-time excessive.
At a degree of 74 out of 100 on the concern and greed index scale, present sentiment aligns with the optimism shared by the market forward of the anticipated spot Bitcoin ETF approvals at the beginning of January.
Over the previous yr, Bitcoin has spent simply 11 days within the concern part, with most time spent within the impartial sentiment zone at 48% (178 days) and greed simply behind at 44% (163 days).
The final time Bitcoin sentiment noticed a chronic interval of concern was January 2023, and excessive concern hasn’t been seen since November 2022.
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