Bitcoin Rally Over? CryptoQuant’s Bull Score Index Turns Bearish
CryptoQuant’s Bitcoin Bull Score Index has dropped to a value of 20, hinting that a potential bearish transition could have occurred for the asset. Bitcoin Bull Score Index Is Now In “Extra Bearish” Territory In a new post on X, CryptoQuant community analyst Maartunn has shared how the analytics firm’s “Bull Score Index” has changed for Bitcoin after its recent price drawdown. The Bull Score Index is an indicator that tells us about the market phase the cryptocurrency is currently going through. It determines this by referring to a bunch of key on-chain....
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Data shows social media sentiment around Solana has hit a 11-week high following the latest recovery surge in the cryptocurrency’s price. Solana Is Now Observing 5.8 Bullish Comments For Every Bearish Post In a new post on X, analytics firm Santiment has discussed about the latest trend in the Positive/Negative Sentiment for Solana. This indicator tells us about how the bullish and bearish comments related to SOL currently compare on the major social media platforms. The metric uses a machine-learning model to judge whether a given post/thread/message is positive or negative. Once it....
The crypto market sentiment had been on the rise at the start of August, but as the month draws to a close, a market crash has dragged it back to August levels. The Fear & Greed Index had previously reached a local peak of 42 when the price of bitcoin had recovered to $25,000. However, since then, the downtrend has been on a decline back into the Fear territory. Fear & Greed Index At Mostly Lows The Crypto Fear & Greed Index has declined to a score of 25. This puts it dangerously close to falling back into the Extreme Fear territory. Now, the reason that market sentiment is so important to....
On January 8, 2022, the price of bitcoin dropped to $40,517 per unit just after 1 p.m. (EST) on Saturday afternoon. According to the Crypto Fear & Greed Index (CFGI), sentiment shows “extreme fear” is in the air, and the CFGI score is a 10. The last time the CFGI score was this low was 171 days ago on July 21, 2021. Current CFGI Sentiment Shows ‘Extreme Fear’ — Bitcoin’s Price 39% Lower Than All-Time High Digital currency markets shed billions in value this past week and the leading crypto asset bitcoin (BTC) lost close to 10% during the last....
Bitcoin has maintained its upward trajectory so far this week, with the asset reclaiming and holding above the $85,000 mark. This performance reflects a weekly gain of approximately 4.7%, indicating a possible shift in momentum after weeks of sideways and bearish activity. While short-term gains have been recorded, signs that might determine Bitcoin’s next major move appear to have emerged. Particularly, a renewed analysis of market health and investor behavior has accompanied the current price action of BTC. On-chain metrics and sentiment indicators are being used to assess whether the....
The crypto market sentiment had taken a beating when the price of bitcoin fell to a new cycle low of $17,600. With this, investor sentiment had plummeted to new yearly lows. But slowly, the market sentiment had recovered and made its way out of the extreme fear territory. That is until now when the market sentiment has recorded an enormous push upward off the back of another market rally. Sentiment Turning Green The crypto market sentiment has been on an uptrend since the recovery started back in July. When the price of bitcoin first hit $24,000 for the first time since the market trend,....