Bitcoin is holding above $90K, so why is ‘greed’ sentiment slipping?
Bitcoin surged above $90,000 on April 23, boosting crypto market sentiment to a two-month high with a Crypto Fear & Greed Index score of 72. By April 25, the score decreased to 60 despite Bitcoin maintaining a price range between $91,800 and $94,304. Analysts express caution regarding the sustainability of the rally, with Markus Thielen from 10x Research highlighting low stablecoin minting activity as a concern. Bitfinex analysts noted Bitcoin's strength against US equities but called for confirmation of structural changes. Conversely, Michaël van de Poppe from MN Trading Capital remains optimistic about potential new all-time highs. The altcoin season index shows Bitcoin dominance at 64.39%, indicating a preference for Bitcoin over altcoins. Social media sentiment has turned bullish since Bitcoin's price rose from the mid-$80,000 range. Spot Bitcoin ETFs experienced significant inflows, totaling $2.6 billion over four trading days.
