Bitcoin’s 15.31% rebound to the $60K range has shifted the Greed and Fear Index from extreme fear to neutral.
Positive inflows into Bitcoin ETFs and significant purchases by MicroStrategy have bolstered market sentiment.
Ethereum options trading has surged, with over 20,000 contracts targeting $3,000 by December.
In a remarkable turn of events, the crypto market’s greed and fear index has shifted to a neutral stance, moving away from the intense fear experienced earlier. Recent data shows the fear index now stands at “50,” up from “32” yesterday, which indicated fear, and “23” last week, reflecting extreme fear.
This change comes as Bitcoin has bounced back to the $60K price point early today, reaching a daily peak of $60,656. Bitcoin was last in the $60K range on August 28, three weeks ago. During this period, Bitcoin’s price dropped to $52,598 on September 6, contributing to the extreme fear sentiment in the market over the past weeks.
Essentially, Bitcoin has rebounded by 15.31% since that decline, helping to improve market sentiment. At press time, Bitcoin hovers just around $60K as it seeks to defend this newly recaptured threshol…
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