{"id":605997,"date":"2024-05-01T16:00:56","date_gmt":"2024-05-01T16:00:56","guid":{"rendered":"https:\/\/wncen.com\/?p=605997"},"modified":"2024-06-11T07:04:43","modified_gmt":"2024-06-11T07:04:43","slug":"bitcoin-greed-sentiment-neutral-57000-plunge","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-greed-sentiment-neutral-57000-plunge\/","title":{"rendered":"Bitcoin Greed No More: Sentiment Back At Neutral After $57,000 Plunge"},"content":{"rendered":"<p>Data shows that Bitcoin sentiment has cooled off to neutral from greed following the asset&#8217;s latest plunge to the $57,000 level.<\/p>\n<h2>Bitcoin Fear &amp; Greed Index Has Returned To Neutral Levels<\/h2>\n<p>The &#8220;<a href=\"https:\/\/wncen.com\/crypto\/why-crypto-fear-greed-index-sustainable-recovery\/\" target=\"_blank\" rel=\"noopener \">Fear &amp; Greed Index<\/a>&#8221; is an indicator created by <a href=\"https:\/\/alternative.me\/crypto\/fear-and-greed-index\/\" target=\"_blank\" rel=\"noopener nofollow\">Alternative<\/a> that shows the average sentiment among investors in the Bitcoin and wider cryptocurrency market.<\/p>\n<p>This index estimates sentiment by considering five factors: volatility, trading volume, social media data, market cap dominance, and Google Trends.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/bitcoin-news\/bitcoin-92190-analyst-explains-new-ath\/\" target=\"_blank\" rel=\"noopener \">Bitcoin To $92,190: Crypto Analyst Reveals Path To ATH Target<\/a><\/div>\n<p>The metric uses a scale that runs from zero to 100 to represent this average sentiment. All values under 46 suggest that investors are fearful, while those above 54 imply a greedy market. The zone between these two cutoffs naturally corresponds to the territory of neutral mentality.<\/p>\n<p>Now, here is what the Bitcoin sentiment looks like right now, according to the Fear &amp; Greed Index:<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-606040 aligncenter\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/meter.png?w=367&#038;resize=367%2C332\" alt=\"Bitcoin Fear &amp; Greed Index\" width=\"367\" height=\"332\"><\/p>\n<pre style=\"text-align: center\">The value of the metric appears to be 54 at the moment | Source: <a href=\"https:\/\/alternative.me\/crypto\/fear-and-greed-index\/\" target=\"_blank\" rel=\"noopener nofollow\">Alternative<\/a><\/pre>\n<p>As displayed above, the Bitcoin Fear &amp; Greed Index is at a value of 54, implying that investors share a neutral sentiment currently. However, the neutrality is only just, as the metric is right at the boundary of the greed region.<\/p>\n<p>This is a significant departure from yesterday&#8217;s sentiment: 67. The chart below shows how the indicator&#8217;s value has changed recently.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-606046 size-large aligncenter\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/chart.png?w=860&#038;resize=860%2C408\" alt=\"Bitcoin Neutral \" width=\"860\" height=\"408\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/chart.png?w=1112 1112w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/chart.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/chart.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/chart.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/chart.png?w=750 750w\" sizes=\"(max-width: 860px) 100vw, 860px\"><\/p>\n<pre style=\"text-align: center\">The trend in the Fear &amp; Greed Index over the past year | Source: <a href=\"https:\/\/alternative.me\/crypto\/fear-and-greed-index\/\" target=\"_blank\" rel=\"noopener nofollow\">Alternative<\/a><\/pre>\n<p>As the graph shows, the Bitcoin Fear &amp; Greed Index has been declining recently. For most of February and March, as well as the first half of April, the indicator was in or near a special zone called <a href=\"https:\/\/wncen.com\/bitcoin-news\/bitcoin-traders-no-extremely-greedy-rebound-signal\/\" target=\"_blank\" rel=\"noopener \">extreme greed<\/a>.<\/p>\n<p>The market assumes this sentiment at values above 75. As the asset price struggled recently, the mentality cooled off from this extreme zone and entered the normal greed region. With the latest crash in BTC, the index has seen a sharp plunge, now exiting out of greed altogether.<\/p>\n<p>Historically, cryptocurrency has tended to move against the majority&#8217;s expectations. The stronger this expectation, the higher the probability of such a contrary move.<\/p>\n<p>This expectation is considered the strongest in extreme sentiment zones, as well as extreme fear and greed. As such, major bottoms and tops have often occurred in these territories.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/bitcoin-news\/bitcoin-dominance-traders-og-dogecoin-altcoins\/\" target=\"_blank\" rel=\"noopener \">Bitcoin Dominance: Traders Preferring The OG To Dogecoin &amp; Other Altcoins<\/a><\/div>\n<p>The <a href=\"https:\/\/wncen.com\/news\/bitcoin-blasts-past-70000-in-wild-week-to-register-new-all-time-high\/\" target=\"_blank\" rel=\"noopener \">all-time high (ATH) price<\/a> last month, which continues to be the top of the rally so far, also occurred alongside extreme values of the Bitcoin Fear &amp; Greed Index.<\/p>\n<p>With the sentiment now cooled to neutral, some investors may be watching for a fall into fear. This is natural because a rebound would become more probable the worse the sentiment gets now.<\/p>\n<h2>BTC Price<\/h2>\n<p>During Bitcoin&#8217;s latest plunge, its price briefly slipped below $57,000 before surging back to $57,300.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium aligncenter\" src=\"https:\/\/www.tradingview.com\/x\/qM0dZAS0\/\" alt=\"Bitcoin Price Chart\" width=\"1534\" height=\"854\"><\/p>\n<pre style=\"text-align: center\">Looks like the price of the asset has registered a sharp drop over the past two days | Source: <a href=\"https:\/\/www.tradingview.com\/chart\/qFC1kfFd\/\" target=\"_blank\" rel=\"noopener nofollow\">BTCUSD on TradingView<\/a><\/pre>\n<div class=\"disclaimer-shortcode\">Featured image from Kanchanara on Unsplash.com, Alternative.me, chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Data shows that Bitcoin sentiment has cooled off to neutral from greed following the asset&#8217;s latest plunge to the $57,000 level. Bitcoin Fear &amp; Greed Index Has Returned To Neutral Levels The &#8220;Fear &amp; Greed Index&#8221; is an indicator created by Alternative that shows the average sentiment among investors in the Bitcoin and wider cryptocurrency market. This index estimates sentiment by considering five factors: volatility, trading volume, social media data, market cap dominance, and Google Trends. Related Reading: Bitcoin To $92,190: Crypto Analyst Reveals Path To ATH Target The metric uses a scale that runs from zero to 100 to represent this average sentiment. All values under 46 suggest that investors are fearful, while those above 54 imply a greedy market. The zone between these two cutoffs naturally corresponds to the territory of neutral mentality. Now, here is what the Bitcoin sentiment looks like right now, according to the Fear &amp; Greed Index: The value of the metric appears to be 54 at the moment | Source: Alternative As displayed above, the Bitcoin Fear &amp; Greed Index is at a value of 54, implying that investors share a neutral sentiment currently. However, the neutrality is only just, as the metric is right at the boundary of the greed region. This is a significant departure from yesterday&#8217;s sentiment: 67. The chart below shows how the indicator&#8217;s value has changed recently. The trend in the Fear &amp; Greed Index over the past year | Source: Alternative As the graph shows, the Bitcoin Fear &amp; Greed Index has been declining recently. For most of February and March, as well as the first half of April, the indicator was in or near a special zone called extreme greed. The market assumes this sentiment at values above 75. As the asset price struggled recently, the mentality cooled off from this extreme zone and entered the normal greed region. With the latest crash in BTC, the index has seen a sharp plunge, now exiting out of greed altogether. Historically, cryptocurrency has tended to move against the majority&#8217;s expectations. The stronger this expectation, the higher the probability of such a contrary move. This expectation is considered the strongest in extreme sentiment zones, as well as extreme fear and greed. As such, major bottoms and tops have often occurred in these territories. Related Reading: Bitcoin Dominance: Traders Preferring The OG To Dogecoin &amp; Other Altcoins The all-time high (ATH) price last month, which continues to be the top of the rally so far, also occurred alongside extreme values of the Bitcoin Fear &amp; Greed Index. With the sentiment now cooled to neutral, some investors may be watching for a fall into fear. This is natural because a rebound would become more probable the worse the sentiment gets now. BTC Price During Bitcoin&#8217;s latest plunge, its price briefly slipped below $57,000 before surging back to $57,300. Looks like the price of the asset has registered a sharp drop over the past two days | Source: BTCUSD on TradingView Featured image from Kanchanara on Unsplash.com, Alternative.me, chart from TradingView.com<\/p>\n","protected":false},"author":542,"featured_media":606047,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,461,506,88463,84433,87457,86409,1119,1144],"class_list":["post-605997","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-bearish","tag-bitcoin-crash","tag-bitcoin-fear-greed-index","tag-bitcoin-greed","tag-bitcoin-plunge","tag-bitcoin-sentiment","tag-btc","tag-btcusd"],"acf":[],"yoast_head":"\n<title>Bitcoin Greed No More: Sentiment Back At Neutral After $57,000 Plunge<\/title>\n<meta name=\"description\" content=\"Data shows the Bitcoin sentiment has cooled off to neutral from greed following the latest plunge the asset has seen to the $57,000 level.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/wncen.com\/news\/bitcoin-greed-sentiment-neutral-57000-plunge\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin Greed No More: Sentiment Back At Neutral After $57,000 Plunge\" \/>\n<meta property=\"og:description\" content=\"Data shows the Bitcoin sentiment has cooled off to neutral from greed following the latest plunge the asset has seen to the $57,000 level.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/wncen.com\/news\/bitcoin-greed-sentiment-neutral-57000-plunge\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2024-05-01T16:00:56+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-11T07:04:43+00:00\" \/>\n<meta name=\"author\" content=\"Keshav Verma\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/kanchanara-7E3QGntO66M-unsplash.jpg?fit=6048%2C4024\" \/>\n<meta name=\"twitter:creator\" content=\"@https:\/\/twitter.com\/keshavvarma29\" \/>\n<meta name=\"twitter:site\" content=\"@newsbtc\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Keshav Verma\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/wncen.com\/news\/bitcoin-greed-sentiment-neutral-57000-plunge\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/wncen.com\/news\/bitcoin-greed-sentiment-neutral-57000-plunge\/\"},\"author\":{\"name\":\"Keshav Verma\",\"@id\":\"https:\/\/wncen.com\/#\/schema\/person\/bdb6d57b7ea5cc00981204795656d1a6\"},\"headline\":\"Bitcoin Greed No More: Sentiment Back At Neutral After $57,000 Plunge\",\"datePublished\":\"2024-05-01T16:00:56+00:00\",\"dateModified\":\"2024-06-11T07:04:43+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/wncen.com\/news\/bitcoin-greed-sentiment-neutral-57000-plunge\/\"},\"wordCount\":465,\"publisher\":{\"@id\":\"https:\/\/wncen.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/wncen.com\/news\/bitcoin-greed-sentiment-neutral-57000-plunge\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/kanchanara-7E3QGntO66M-unsplash.jpg?fit=6048%2C4024\",\"keywords\":[\"bitcoin\",\"bitcoin bearish\",\"bitcoin crash\",\"Bitcoin Fear &amp; 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Keshav has been writing for many years, first as a hobbyist and later as a freelancer. He has experience working in a variety of niches, even fiction at one point, but the cryptocurrency industry has been the longest he has been attached to. In terms of official educational qualifications, Keshav holds a bachelor\u2019s degree in Physics from one of the premier institutes of India, the University of Delhi (DU). He started the degree with an aim of eventually making a career in Physics, but the onset of COVID led to a shift in plans. The virus meant that the college classes had to be delivered in the online-mode and with it came free time for him to explore other passions. Initially only seeking to make some beer money, Keshav unexpectedly landed clients offering real projects, after which there was no looking back. Writing was something he had always enjoyed and to be able to do it for a living was like a dream come true. Keshav completed his Physics degree in 2022 and has been focusing on his writing career since, but that doesn\u2019t mean his passion for Physics has ended. He eventually plans to re-enter university to obtain a masters degree in the same field, but perhaps only to satiate his own interest rather than for using it as a means to find employment.. Keshav has found blockchain and its concepts fascinating ever since he started going down the rabbit-hole back in 2020. On-chain analysis in particular has been something he likes to research more about, which is why his NewsBTC pieces tend to involve it in some form. Being of the science background, Keshav likes if concepts are clear and consistent, so he generally explains the indicators he talks about in a bit of detail so that the readers can perhaps come out having understood and learnt something new. As for hobbies, Keshav is super into football, anime, and videogames. He enjoys football not only as a watcher, but also as a player. 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Keshav has been writing for many years, first as a hobbyist and later as a freelancer. He has experience working in a variety of niches, even fiction at one point, but the cryptocurrency industry has been the longest he has been attached to. In terms of official educational qualifications, Keshav holds a bachelor\u2019s degree in Physics from one of the premier institutes of India, the University of Delhi (DU). He started the degree with an aim of eventually making a career in Physics, but the onset of COVID led to a shift in plans. The virus meant that the college classes had to be delivered in the online-mode and with it came free time for him to explore other passions. Initially only seeking to make some beer money, Keshav unexpectedly landed clients offering real projects, after which there was no looking back. Writing was something he had always enjoyed and to be able to do it for a living was like a dream come true. Keshav completed his Physics degree in 2022 and has been focusing on his writing career since, but that doesn\u2019t mean his passion for Physics has ended. He eventually plans to re-enter university to obtain a masters degree in the same field, but perhaps only to satiate his own interest rather than for using it as a means to find employment.. Keshav has found blockchain and its concepts fascinating ever since he started going down the rabbit-hole back in 2020. On-chain analysis in particular has been something he likes to research more about, which is why his NewsBTC pieces tend to involve it in some form. Being of the science background, Keshav likes if concepts are clear and consistent, so he generally explains the indicators he talks about in a bit of detail so that the readers can perhaps come out having understood and learnt something new. As for hobbies, Keshav is super into football, anime, and videogames. He enjoys football not only as a watcher, but also as a player. For games, Keshav generally tends towards enjoying singleplayer adventures, with EA FC (formerly FIFA) being the only online game he is active in. Though, perhaps due to being ultra-focused on the game, he is today a semi-pro on the EA FC scene, regularly participating in tournaments and sometimes even taking back prize money. Because of his enthusiasm for anime and games, he also self-learned Japanese along the way to consume some of the untranslated gems out there. The skill didn\u2019t merely remain as just a hobby, either, as he put it to productive use during his exploration for small-time gigs at the start of COVID, fulfilling a couple of Japanese-to-English translation jobs. Keshav is also big into fitness, with agility and acceleration-related workouts making a big part of his program due to the relevance they have in football. 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