The Fear and Greed Index is at 13 today.
The last time it was this low was July 1, when it stood at 11.
Looking back through the records, it was still at 50 on November 5. It dropped 37 points in nine days. Over the same period, BTC fell from around $80,400 to its current level of $67,300, down about 16%. Sentiment has fallen much faster than prices.
Here’s the interesting part: In early June, the index plunged to a low of 8, when BTC was only around $63,000. On July 1, when the reading was 11, BTC was around $58,600. Prices are now significantly higher than they were then, but people’s mindset is already just as bad.
So I’m reluctant to treat 13 as a buy-the-dip signal. The index tells us how scared people are, not whether prices have bottomed. During that summer slump, it hovered around 10 for several weeks before things turned around.
SOL looks even worse, down 6% in 24 hours to just above $75. Breakpoint kicks off tomorrow, but these conferences have usually been sell-the-news events, so don’t expect it to save the day this week.
Nvidia’s earnings next Tuesday and December rate-hike expectations are still weighing on the market. If BTC falls further from here, it wouldn’t be surprising to see the index drop into the single digits.
#BTC #恐慌指数 #SOL
$BTC $SOL
The last time it was this low was July 1, when it stood at 11.
Looking back through the records, it was still at 50 on November 5. It dropped 37 points in nine days. Over the same period, BTC fell from around $80,400 to its current level of $67,300, down about 16%. Sentiment has fallen much faster than prices.
Here’s the interesting part: In early June, the index plunged to a low of 8, when BTC was only around $63,000. On July 1, when the reading was 11, BTC was around $58,600. Prices are now significantly higher than they were then, but people’s mindset is already just as bad.
So I’m reluctant to treat 13 as a buy-the-dip signal. The index tells us how scared people are, not whether prices have bottomed. During that summer slump, it hovered around 10 for several weeks before things turned around.
SOL looks even worse, down 6% in 24 hours to just above $75. Breakpoint kicks off tomorrow, but these conferences have usually been sell-the-news events, so don’t expect it to save the day this week.
Nvidia’s earnings next Tuesday and December rate-hike expectations are still weighing on the market. If BTC falls further from here, it wouldn’t be surprising to see the index drop into the single digits.
#BTC #恐慌指数 #SOL
$BTC $SOL