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Knowledge reveals 2022 has been the yr of concern within the crypto market as traders have continued to show poor sentiment for round eleven months now.
Crypto Concern And Greed Index Presently Sits In “Excessive Concern” Territory
As per the most recent weekly report from Arcane Analysis, the cryptocurrency market may quickly full one full yr of fearful sentiment.
The related indicator right here is the “concern and greed index,” which tells us concerning the basic sentiment amongst traders within the crypto market.
The metric makes use of a numeric scale that runs from zero to hundred for representing this sentiment. All values higher than fifty indicate a grasping temper, whereas these beneath the edge recommend a fearful air.
Exterior of those two sentiments, there additionally exist two subset sentiments, the “excessive concern” and the “excessive greed.” These happen at values in direction of the ends of the vary. That’s, these above 75 for the previous, and people beneath 25 for the latter.
Now, here’s a chart that reveals the pattern within the crypto concern and greed index over the previous yr:
The worth of the metric appears to have been shifting sideways throughout latest weeks | Supply: Arcane Analysis's The Weekly Replace - Week 41, 2022
As you’ll be able to see within the above graph, the present lengthy spell of concern first began manner again in mid-Nov of final yr because the bull run died down.
Since then, exterior of just a few spikes to greed, the crypto concern and greed index has stayed beneath a price of fifty.
Throughout this era, the metric has really spent a considerable amount of time within the excessive concern territory, that means traders have had a deep backside mentality in 2022.
The newest worth of the indicator has been 22, that means that traders are extraordinarily fearful in the intervening time. This isn’t a lot completely different from the final week, which noticed a price of 24.
The beneath meter shows the place the present market stands in comparison with final week and final month.
The concern and greed index factors at excessive concern proper now | Supply: Arcane Analysis's The Weekly Replace - Week 41, 2022
BTC Value
On the time of writing, Bitcoin’s value floats round $19.2k, up 1% within the final seven days. Over the previous month, the crypto has misplaced 1% in worth.
Beneath is a chart that reveals the pattern within the value of the coin over the past 5 days.
Appears to be like like the worth of the crypto has continued to be caught in a spread over the previous couple of days | Supply: BTCUSD on TradingView
Featured picture from Hans-Jurgen Mager on Unsplash.com, charts from TradingView.com, Arcane Analysis
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