š Bitcoin surged and then fell back. Does the rising FOMO sentiment indicate the end of the rally? š
šBitcoin ushered in a wave of surges after the Federal Reserve cut interest rates, and the price once soared to more than $64,000. But after several rounds of impact tests, the craze seems to have cooled down, and the current asset price has fallen back to just below $63,000. Does this mean that the rally is about to end?
š According to data from Santiment, as interactions on social media increased, FOMO (fear of missing out) levels soared to the fourth highest level since the beginning of the year this week. Historical experience tells us that such rapid rises are often followed by corrections, just like the fluctuations in March and June and July.
š The Fear and Greed Index has increased by 21 points in the past few days, from the "panic" state (33) to the "neutral" state (54). But don't forget that the last time this index rose rapidly, the price of Bitcoin soon fell from $65,000 to below $52,000. $BTC
š¬ Do you think the rise of Bitcoin is over? What impact will the rising FOMO sentiment have on market trends? What are your expectations for the cryptocurrency market after the Fed cuts interest rates?
