After 13 days in an ‘excessive greed’ section of Bitcoin euphoria, the drop to $61,000 has pushed investor sentiment again into plain ‘greed,’ in line with Coinglass. As of press time, Bitcoin is buying and selling at $63,700, simply 13% down from its all-time high.
At a stage of 74 out of 100 on the worry and greed index scale, present sentiment aligns with the optimism shared by the market forward of the anticipated spot Bitcoin ETF approvals initially of January.
Over the previous 12 months, Bitcoin has spent simply 11 days within the worry section, with most time spent within the impartial sentiment zone at 48% (178 days) and greed simply behind at 44% (163 days).
The final time Bitcoin sentiment noticed a chronic interval of worry was January 2023, and excessive worry hasn’t been seen since November 2022.
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