According to BlockBeats, on July 16, Matrixport shared on social media that two weeks ago, they noticed the Matrixport Greed and Fear Index had dropped to a possible lowest level. Today, the 21-day moving average is on an upward trend, which historically indicates a critical low point for Bitcoin.
Whether this recovery can be sustained remains to be seen, as several risk factors could still impact Bitcoin's price. However, this reversal in the indicator suggests that Bitcoin may be entering a more positive period following its recent decline.
