Crypto Fear & Greed Index jumps back into greed territory

Most of August was spent in Fear on the Crypto Fear & Greed Index, with sentiment hitting a yearly low of 17 on Aug. 6.

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Bitcoin Hype Remains Low Even After $63,000 Surge: Green Sign For Rally?

Data shows the social media users have yet to show excessive hype around the latest Bitcoin rally, a sign that could be positive for its sustainability. Bitcoin Sentiment Ratio Has Spiked, But Value Still Not Too High According to data from the analytics firm Santiment, Bitcoin Fear Of Missing Out (FOMO) has remained low through the latest rally. The indicator of relevance here is the “Positive Sentiment vs. Negative Sentiment Ratio,” which, as its name suggests, measures the ratio between the positive and negative comments around BTC being made on the major social media platforms. Related Reading: These Altcoins Are Seeing High Whale Interest After Fed Rate Cut To separate the posts/threads/messages on these platforms between positive and negative, Santiment’s indicator uses a machine-learning model. When the value of this metric is greater than 1, it means the social media users are making more posts expressing a positive sentiment than a negative one. On the other hand, it being under 1 suggests bearish messages are the norm on these platforms. Now, here is a chart that shows the trend in the Bitcoin Positive Sentiment vs. Negative Sentiment Ratio over the last few months: As the above graph shows, this Bitcoin indicator has observed an uplift alongside the latest recovery run in the cryptocurrency’s price. This rally has come as the US Federal Reserve has announced an interest rate cut. The indicator is currently decently above the neutral mark, meaning that positive posts notably outweigh the negative ones. Historically, the asset has tended to move in a direction opposite to what the crowd is expecting, with the probability of the contrary move going up the stronger this expectation becomes. A very bullish market can be a warning sign for the BTC price. Despite the recent surge in sentiment, FOMO is not yet at a level where it would be a problem. The chart shows that the previous spikes in the indicator that occurred around the tops for Bitcoin were of a significantly large scale. The last few months have also seen the indicator generally maintain a positive level, so the metric’s current value isn’t even that out of place when compared to the norm. “Markets can roll until we see a bullish sentiment spike similar to what we saw during the April 19th and May 21st tops,” notes the analytics firm. If FOMO does end up spiking to high levels in the coming days, BTC could encounter another top. Related Reading: Crypto Shorts Suffer $147 Million Squeeze As Bitcoin Returns Above $63,000 When that happens, another foray into the negative sentiment zone could be to wait since, as highlighted in the graph, the last two such instances proved to be profitable buying points into Bitcoin. BTC Price Bitcoin has enjoyed a surge of almost 6% over the past week, bringing its price back to the $63,200 mark. Featured image from Dall-E, Santiment.net, chart from TradingView.com

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Todays Cryptocurrency Sentiment

As Bitcoin continues to consolidate around the $60k markwe might see a movement into the mid 60s, or a retracement back towards mid 50s. Since Bitcoin is back up to $60k, I decided to run my crypto sentiment analysis bot and see how the market feels today, and determine whether there is any strong correlation […]

The post Today’s Cryptocurrency Sentiment appeared first on cryptomaton.

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Bitcoin Sentiment Spikes After Mild Price Jump: Crowd Too Excited Too Quickly?

Data shows that the positive sentiment around Bitcoin has spiked on social media after BTC’s return above $58,000, implying investors may feel FOMO. Bitcoin Positive Vs. Negative Sentiment Ratio Has Spiked Recently According to data from the analytics firm Santiment, the crowd has recently shown a sudden burst of optimism around Bitcoin. The indicator of [...]

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Markets blow up, so the best prep is to have a plan to buy fear and sell euphoria Veteran trader

Pear Protocol founder HUF says a limited pool of capital constantly rotating between narratives is a clear sign of late cycle behavior.

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XRP, Bitcoin Sentiment Remains Very Positive: Bad Sign For Price?

Data shows the sentiment around XRP and Bitcoin is quite bullish currently, something that can actually be to the detriment of their prices. XRP & Bitcoin Among Coins Observing Positive Sentiment Right Now According to data from the analytics firm Santiment, the top cap cryptocurrencies are mainly observing the investors hold a bullish outlook. The indicator of interest here is the “Weighted Sentiment,” which basically tells us about the net sentiment around an asset that’s currently present on social media platforms. Related Reading: Bitcoin Makes Third Retest Of Historical Support, Analyst Sounds Alarm The “weighted” in its name comes from the fact that it weighs the sentiment present in the market (the Sentiment Balance) against the amount of discussion that’s happening on social media (the Social Volume). Because of this feature, this indicator’s value only registers a spike when not only is the crowd tending heavily towards one side as determined by Santiment’s machine-learning model, but also a large amount of posts/threads/messages exist on social media expressing such sentiment. The advantage of this adjustment is that the indicator is better able to portray what the actual situation in the market is like, as it doesn’t go by the opinion of only a few users (as would be the case in periods where traffic is low). Naturally, positive spikes in the Weighted Sentiment imply investors are bullish right now, while negative ones imply a bearish market. Values around zero suggest either there aren’t enough discussions happening on social media or the users as a whole are simply neutral. Now, here is a chart that shows the trend in this indicator for the five top assets in the sector, Bitcoin (BTC), Ethereum (ETH), BNB (BNB), XRP (XRP), and Solana (SOL), over the past few months: As displayed in the above graph, Bitcoin, XRP, Solana, and Ethereum, all have seen the Weighted Sentiment spike into positive territory recently, and these levels have so far persisted into the latest market downturn. This would imply that social media users hold a bullish sentiment around these coins right now. Bitcoin and XRP particularly stand out in terms of this, as the indicator for them is at the highest levels in 17 months and 14 months, respectively. Related Reading: Ethereum Seeing High Exchange Outflows, But Watch Out For This Bearish Signal BNB is the only cryptocurrency out of these that has the Weighted Sentiment in the negative territory, although the investors currently only hold a slightly fearful sentiment. This negative sentiment may actually play into the favor of BNB, however, as markets have historically been more probable to move in the opposite direction to what the crowd is expecting. Naturally, this means that the highly positive sentiment around Bitcoin and XRP could be bearish for their prices instead. XRP Price XRP has extended its drawdown during the past 24 hours with a drop of 6%, which has taken its price to $0.57. Featured image from Dall-E, Santiment.net, chart from TradingView.com

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Not All Hope Is Lost: Crypto Analyst Weighs In On The Markets Performance

As the crypto market faces another drop, a pessimistic sentiment surged again. Some investors seem to fear that altcoins wont take off this cycle and that they have lost their chance of profiting from the bull run. However, renowned analyst Altcoin Sherpa weighed in on the matter, suggesting that the market is set up to [...]

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Bitcoin Investors Again Show Extreme Fear As BTC Slips To $59,000

Data shows the Bitcoin market sentiment has taken to extreme fear again as the asset’s price has seen a retrace to the $59,000 mark. Bitcoin Fear & Greed Index Suggests Market Now Extremely Fearful The “Fear & Greed Index” is an indicator created by Alternative that tells us about the average sentiment that’s currently present in the Bitcoin and wider cryptocurrency markets. The index uses the following five factors to determine the sentiment: volatility, trading volume, social media sentiment, market cap dominance, and Google Trends. It then represents this estimation using a scale that runs from 0-100 Related Reading: Bitcoin Makes Sharp Recovery, But Watch Out For Resistance At $64,000 All values of the indicator beyond the 53 mark imply that investors are showing greed, while those below 47 suggest the presence of fear in the market. The region between these two cutoffs naturally corresponds to a neutral mentality. Besides these three territories, there are also two special sentiments called the extreme fear and the extreme greed. The former of these occurs at 25 and below, while the latter at 75 and above. Now, here is what the latest value of the Bitcoin Fear & Greed Index looks like: As is visible above, the indicator has a value of 25 at the moment, meaning that the market is just inside the extreme fear zone. This is a pretty significant change from how the metric was just yesterday. The below chart shows the trend in the Bitcoin Fear & Greed Index over the past month. From the graph, it’s apparent that the Fear & Greed Index had been at a high level near the end of July, but during the bearish momentum that had followed in the BTC price, the metric’s value had also gone through a notable drop. On the 29th, the index was at a value of 74, meaning it was right on the edge of extreme greed, but by the 6th of this month, it had gone into the extreme fear zone with a value of 17. The asset’s recent recovery did lead to an improvement to the sentiment, with the index traveling back up to 48. It would appear, though, that this growth couldn’t last, as the sentiment has again declined into extreme fear, as the BTC price has seen a retrace. Related Reading: Bitcoin NVT Golden Cross Gives Bottom Signal: What Happened Last 2 Times The fact that the sentiment has worsened, however, may not actually be a bad sign for the cryptocurrency. Historically, Bitcoin has tended to move against the expectations of the majority, and the extreme regions are where this expectation is perhaps the strongest. As such, tops and bottoms have tended to form whenever the market has been inside these zones. With the Fear & Greed Index now back inside extreme fear, It’s possible that a bottom could be likely to take place. It now remains to be seen if the asset’s decline ends with this drop, or if there is more to come. BTC Price Bitcoin appears to already be showing signs of a rebound as its price has climbed back up to $59,700 from its low of under $58,000 earlier in the day. Featured image from Dall-E, Alternative.me, chart from TradingView.com

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Bitcoin Extreme Greed Is Almost Here: Price Bottom Now Close?

Data shows the Bitcoin sentiment is close to entering into the extreme greed zone. Here’s what this could mean for the cryptocurrency’s price. Bitcoin Fear & Greed Index Has Continued To Decline Recently The “Fear & Greed Index” is an indicator developed by Alternative that tells us about the average sentiment that traders in the Bitcoin and wider cryptocurrency market currently share. The index uses five factors to determine this sentiment: volatility, trading volume, social media, market cap dominance, and Google Trends. The metric uses a numeric scale that runs from zero to hundred for representing the mentality. Related Reading: Social Media Screams Sell As Bitcoin Crashes To $54,000: Buy Signal? All values of the indicator above the 53 mark suggest the presence of greed among the investors, while those below 47 imply the dominance of fear. The region in between these two thresholds correlates to a neutral sentiment. Now, here is what the Bitcoin Fear & Greed Index is looking like right now: As is visible above, Bitcoin Fear & Greed currently has a value of 28, meaning that the average investor is showing fear. The degree of fearfulness must also be quite notable, as this current value is pretty deep into the territory. In fact, the latest level of the indicator is quite close to a special region called the “extreme fear.” Investors display extreme fear when the index goes under 25. There is also a similar zone for the greed side as well, which is known as “extreme greed” and occurs above 75. During the first half of last month, the metric had been in or close to the latter region, but the recent downturn in the market has sharply degraded the sentiment to the other end of the spectrum. Historically, Bitcoin and other cryptocurrencies have tended to show moves opposite to what the majority are expecting. The stronger the crowd’s expectation gets, the higher the probability of such a contrary move becomes. Related Reading: Is Bitcoin Undervalued Now? Industry Expert Decodes The Market State The extreme sentiments are where the traders are leaning towards one direction too much. As such, major tops and bottoms in the asset have usually formed when the index has been in these zones. Because of this fact, some traders prefer to buy when investors are showing extreme fear and sell during extreme greed. This trading philosophy is popularly called “contrarian investing.” Warren Buffet’s famous quote sums up the idea, “be fearful when others are greedy, and greedy when others are fearful.” As the Bitcoin Fear & Greed index is approaching the extreme fear territory, it’s possible that the cryptocurrency could once again show profitable entry points soon, if the past is anything to go by. BTC Price Bitcoin has so far been unable to make too much recovery from its recent crash, as its price is still trading around $56,700. Featured image from Dall-E, Alternative.me, chart from TradingView.com

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LayerZero Bounces Amid Market Retrace, ZRO Soars 20%

LayerZero (ZRO) has become one of the first altcoins to bounce amid the market retrace. The token has registered green numbers despite its controversial token airdrop last month.  As a result, investors and market watchers remain bullish on ZROs long-term performance. Related Reading: Cardano (ADA) Founder Claps Back At Dead Coin Comments, Issues Reminder To The Community From ZRO To Market Hero In late June, the omnichain interoperability protocol LayerZero launched its long-awaited ZRO token. The launch, which included a token airdrop for the protocol users, received a negative response from the crypto community. Users found the airdrops claim mechanism to be a slap in the face for the community. Minutes before the launch, the LayerZero Foundation announced that a new Proof-of-Donation claim mechanism would be used for those who wanted to receive their token allocation. The mechanism required users to donate $0.1 in USDC, USDT, or ETH, per token allocated. The donations would go directly to the Protocol Guild, a collective funding mechanism for Ethereum developers. LayerZero received backlash for this measure. Many community members found that the project was milking their supporters and lacked proper communication. As a result, the token saw a 38% drop following the launch. ZRO went from trading at its $4.57 all-time high (ATH) to trading as low as $2.83. The retrace continued as it reached its all-time low (ATL) of $2.48 a week after its launch. The token has since recovered by 53%. ZROs upward trajectory started last week as Bitcoin (BTC) regained its $60,000 support zone. The token moved from its ATL to a biweekly high of $4.2. However, LayerZeros token followed the rest of the market in the retrace. BTCs performance dragged ZRO back to the $2.75 level earlier today, but it has bounced over 20% in the last few hours. As of this writing, ZRO is one of the few altcoins registering green numbers in multiple timeframes. Moreover, the protocols token displays double-digit gains in the weekly and biweekly timeframes, with 40.2% and 22.1% price increases. Investors Bullish On LayerZero Following this performance, investors and market watchers expressed bullish sentiment regarding the token. Some traders assert that ZRO held relatively well during the dump and is now recovering pretty hard. Crypto trader CryptoKnight highlighted ZROs bounce and suggested that the token could reach $5 in the short-term timeframe. Similarly, SpiderCrypto believes that ZRO will hit $10 by the end of the year. To the market watcher, LayerZero is the best infra company for those who believe in a multichain future. Seemingly, users remain confident in the protocol despite the launch mishap. Some investors consider it one of the cleanest brands around with a token that is not difficult to sell to people with a bit of FOMO. Related Reading: Gala Games Announces Partnership With Animoca Brands, GALA Token Plunges 6.7% LayerZero Labs recently announced its integration with Flare, a data-focused blockchain, to enable Flare developers to connect with 75 other networks. Per the post, the integration will connect the blockchain with 50,000 dApps and offer access to a vast quantity of new users and sources of liquidity. At the time of writing, ZRO is trading at $3.81, representing a 21% increase in the last 24 hours. Featured Image from Unsplash.com, Chart from TradingView.com

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Social Media Screams Sell As Bitcoin Crashes To $54,000: Buy Signal?

Data shows users on social media platforms have been calling to sell Bitcoin after its latest crash, a signal that contrarian traders may be waiting for. Bitcoin Sentiment On Social Media Has Turned Quite Bearish According to data from the analytics firm Santiment, social media is showing historic levels of FUD amid the market drawdown. The indicator of interest here is the “Social Volume,” which basically tells us about the degree of discussion around a given topic or term that users on the major social media platforms are currently participating in. This metric works by going through posts/threads/messages on these platforms to look for mentions of the keyword. The indicator then counts up the number of posts that contain at least one such mention. Related Reading: Bitcoin Traders Sink Into Fear As Price Crashes Below $58,000 The reason the Social Volume doesn’t simply count up the mentions themselves is that mentions alone don’t contain any information about if the trend is being followed across social media as a whole. Sometimes, for example, mentions can be high for a topic, but most of them could be limited to niche circles (that is, inside a few posts). The Social Volume naturally wouldn’t spike in this case, but it would when users across the platforms are making posts about the term. Now, what the analytics firm has done here is that it has applied terms related to sentiment to Social Volume, to differentiate between discussions related to positive and negative sentiments. Here is the chart shared by Santiment that shows how the Social Volume for negative and positive sentiments has changed alongside the recent Bitcoin volatility: To discern the sentiment, the analytics firm has chosen terms such as buy, bottom, and bullish in the case of positive sentiment, and sell, top, and bearish for negative sentiment. From the graph, it’s visible that the Social Volume for the latter type of keywords has observed a huge spike alongside the plunge in the Bitcoin price. This would imply that a large amount of bearish posts have popped up on social media. The indicator has also spiked for terms pertaining to positive sentiment, but clearly, the scale has been lesser than the one for bearish terms. In fact, the latest ratio between sell and buy calls has actually been the largest observed in the year so far. Thus, it would appear that social media users as a whole are feeling FUD towards Bitcoin. This may actually be a positive development for the cryptocurrency, however, as its price has historically been more likely to move in the opposite direction to what the crowd expects. Related Reading: Why Did Bitcoin Plunge Under $58,000? On-Chain Data Says This As is apparent in the chart, buying calls had spiked on a few occasions following price plunges in the past month, but this optimism had only led to a continued decline for the asset. With the latest crash, sentiment appears to have finally flipped, with Bitcoin traders starting to give up. “For bold traders, this is a window that some may wish to be a true contrarian and buy into the crowd’s anger and frustration,” notes Santiment. BTC Price Bitcoin had briefly slipped under the $54,000 level during the plunge, but the asset appears to have bounced back to $55,400 since then. Featured image from Dall-E, Santiment.net, chart from TradingView.com

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Bitcoin Traders Sink Into Fear As Price Crashes Below $58,000

Data shows that Bitcoin traders’ sentiment has declined into ‘fear’ after the price crash the cryptocurrency has seen during the past 24 hours. Bitcoin Fear & Greed Index Is Now Suggesting A Fearful Market The “Fear & Greed Index” is an indicator created by Alternative that tells us about the average sentiment currently held by [...]

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Cardano (ADA) Founder Claps Back At Dead Coin Comments, Issues Reminder To The Community

Cardano Founder Charles Hoskinson responded to Ben Armstrongs comments about ADA status as a dead coin. Hoskinsons reply sparked a conversation about the state of the crypto industry and whats valued in projects. Cardano And Polkadot Labeled Dead Coins On Wednesday, crypto influencer Ben Armstrong, known as BitBoy Crypto, shared his thoughts on Cardano (ADA) [...]

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Bitcoin will crash to $50K, 10x Research warns

According to 10x Research, Bitcoins potential drop below $50,000 is linked to dwindling buy flows and accelerating sell flows.

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Solana Looks Ripe To Push Higher, Is A Mania-Like Rally To $600 Coming?

Solana (SOL) was recently in the spotlight after the US Securities and Exchange Commission (SEC) adjusted its complaint regarding the classification of SOL. The network also ranked as the second largest revenue-generating crypto project on Monday. Following this, some market watchers shared their predictions regarding the tokens recent performance. Some highlighted that a recent rejection [...]

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Bitcoin hits 16-month high positive sentiment as price sits near $68K

According to Santiment data, the term Bitcoin is being used more positively on social media now than at any time in the past 16 months.

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US leads $1.35B weekly surge in digital asset inflows CoinShares

CoinShares reports an unprecedented inflow into digital asset investment products, signaling growing investor confidence and positive market sentiment.

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Crypto relief rally may be just beginning, with sellers exhausted

The crypto market could bounce back this month after a rocky June, with stablecoin outflow from exchanges showing slowing selling pressure.

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XRP & Litecoin See Social Media FOMO: Bad Sign For Prices?

Data shows that users on social media are overwhelmingly showing FOMO towards XRP and Litecoin, something that could be a bearish sign for their prices. Weighted Sentiment Has Spiked For Both XRP & Litecoin Recently According to data from the analytics firm Santiment, LTC and XRP are among the coins that have seen an improvement [...]

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Crypto Enthusiasts Still Believe in Bull Run, Survey Shows

A survey by CoinGecko reveals that the majority of crypto participants believe the bull run is not over, with significant optimism among investors. (Read More)

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