Crypto Sentiment Exits 'Extreme Fear' Levels After 18 Days
After 18 days in “Extreme Fear,” the Crypto Fear & Greed Index for crypto markets rose to “Fear” with a score of 28, indicating early signs of improving sentiment. November saw one of the longest periods of bearish sentiment in the index’s history, despite typically being a strong month for Bitcoin. Analysts noted that “Extreme Fear” often marks Bitcoin market bottoms. Sentiment indicators, such as those from Santiment, now show generally bullish sentiment after Bitcoin rebounded to near $92,000. However, the market remains cautious, with discussions centered on price volatility and institutional activity, and participants still in a risk-off stance. The Altcoin Season Index signals that the market is firmly in a “Bitcoin Season,” suggesting hesitancy toward altcoins. Some believe Bitcoin’s price is still misaligned due to macroeconomic uncertainties, such as recession expectations, creating what some see as a rare risk-reward opportunity reminiscent of the COVID-19 period.
