{"id":642313,"date":"2024-09-17T04:30:43","date_gmt":"2024-09-17T04:30:43","guid":{"rendered":"https:\/\/wncen.com\/?p=642313"},"modified":"2024-09-16T14:32:53","modified_gmt":"2024-09-16T14:32:53","slug":"bitcoin-investors-btc-erases-60000-weekend-recovery","status":"publish","type":"post","link":"https:\/\/wncen.com\/bitcoin-news\/bitcoin-investors-btc-erases-60000-weekend-recovery\/","title":{"rendered":"Bitcoin Investors Succumb To Fear As BTC Erases $60,000 Weekend Recovery"},"content":{"rendered":"

Data shows that the sentiment of the Bitcoin market has switched to fear after the retrace. BTC has seen a $58,000 level during the past day.<\/p>\n

Bitcoin Fear & Greed Index Is Pointing At ‘Fear’ Now<\/h2>\n

The “Fear & Greed Index<\/a>” is an indicator created by Alternative<\/a> that tells us about the general sentiment among the investors in the Bitcoin and the wider cryptocurrency market.<\/p>\n

Related Reading: Ethereum In Danger: Analyst Explains What Could Trigger Crash To $1,800<\/a><\/div>\n

Market sentiment can be helpful to follow as it can reflect the cryptocurrency’s price. It sometimes plays a role in the asset’s trajectory, which may be unexpected to many investors.<\/p>\n

The Fear & Greed Index uses data from the following five factors to estimate the average sentiment among investors: volatility, trading volume momentum, social media sentiment, market cap dominance, and Google Trends.<\/p>\n

Based on these factors, the metric represents this mentality as a score between zero and hundred. The index having a value greater than 53 implies the presence of greed among the investors, while under 47 suggests fear in the market. The values in between these two cutoffs suggest a net-neutral mentality.<\/p>\n

Now, here is what the latest Bitcoin market sentiment has looked like from the perspective of the indicator:<\/p>\n

\"Bitcoin
Looks like the index is at a value of 39 | Source: Alternative<\/a><\/figcaption><\/figure>\n

As is visible above, the Bitcoin Fear & Greed Index has a value of 39, which suggests that the majority of the investors in the market are slightly fearful at the moment.<\/p>\n

This is a notable change from yesterday, when the index had a value of 51, and the holders had been sharing a neutral mentality. The chart below shows a record of all the changes in the index over the past year.<\/p>\n

\"Bitcoin
The value of the metric appears to have plunged over the past day | Source: Alternative<\/a><\/figcaption><\/figure>\n

As displayed in the graph, the Bitcoin Fear & Greed Index saw a sharp improvement over the weekend, caused by the recovery<\/a> that the asset price had enjoyed beyond the $60,000 mark.<\/p>\n

However, the cryptocurrency has kicked off the new week with a plunge back towards $58,000, which may be why the sentiment has also seen a reset to the fear region.<\/p>\n

That said, while the index is back in the fear zone, it’s not yet at the 31 value it was at before the earlier recovery. This fact, however, may not be a good sign for the asset.<\/p>\n

Historically, Bitcoin has tended to move against<\/a> the expectations of the majority. The probability of a contrary move occurring has only increased the more the investors have become sure of a direction.<\/p>\n

Related Reading: Bitcoin Sentiment Spikes After Mild Price Jump: Crowd Too Excited Too Quickly?<\/a><\/div>\n

Thus, when the Fear & Greed Index assumes low values (signifying a special sentiment called the extreme fear), bottoms can be probable to occur. Similarly, it being high (extreme greed) can signal tops.<\/p>\n

With the Bitcoin market being only slightly fearful right now, it seems the pullback in the cryptocurrency hasn’t been enough to deal a heavy blow to investor morale. Naturally,\u00a0 a pullback can still occur for the coin, but it may be less likely if sentiment worsens further.<\/p>\n

BTC Price<\/h2>\n

Bitcoin has dropped more than 3% over the past day, which has taken its price to $58,100.<\/p>\n

\"Bitcoin
The asset appears to have already retraced its latest recovery | Source: BTCUSDT on TradingView<\/a><\/figcaption><\/figure>\n
Featured image from Dall-E, Alternative.me, chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"

Data shows that the sentiment of the Bitcoin market has switched to fear after the retrace. BTC has seen a $58,000 level during the past day. Bitcoin Fear & Greed Index Is Pointing At ‘Fear’ Now The “Fear & Greed Index” is an indicator created by Alternative that tells us about the general sentiment among the investors in the Bitcoin and the wider cryptocurrency market. Related Reading: Ethereum In Danger: Analyst Explains What Could Trigger Crash To $1,800 Market sentiment can be helpful to follow as it can reflect the cryptocurrency’s price. It sometimes plays a role in the asset’s trajectory, which may be unexpected to many investors. The Fear & Greed Index uses data from the following five factors to estimate the average sentiment among investors: volatility, trading volume momentum, social media sentiment, market cap dominance, and Google Trends. Based on these factors, the metric represents this mentality as a score between zero and hundred. The index having a value greater than 53 implies the presence of greed among the investors, while under 47 suggests fear in the market. The values in between these two cutoffs suggest a net-neutral mentality. Now, here is what the latest Bitcoin market sentiment has looked like from the perspective of the indicator: As is visible above, the Bitcoin Fear & Greed Index has a value of 39, which suggests that the majority of the investors in the market are slightly fearful at the moment. This is a notable change from yesterday, when the index had a value of 51, and the holders had been sharing a neutral mentality. The chart below shows a record of all the changes in the index over the past year. As displayed in the graph, the Bitcoin Fear & Greed Index saw a sharp improvement over the weekend, caused by the recovery that the asset price had enjoyed beyond the $60,000 mark. However, the cryptocurrency has kicked off the new week with a plunge back towards $58,000, which may be why the sentiment has also seen a reset to the fear region. That said, while the index is back in the fear zone, it’s not yet at the 31 value it was at before the earlier recovery. This fact, however, may not be a good sign for the asset. Historically, Bitcoin has tended to move against the expectations of the majority. The probability of a contrary move occurring has only increased the more the investors have become sure of a direction. Related Reading: Bitcoin Sentiment Spikes After Mild Price Jump: Crowd Too Excited Too Quickly? Thus, when the Fear & Greed Index assumes low values (signifying a special sentiment called the extreme fear), bottoms can be probable to occur. Similarly, it being high (extreme greed) can signal tops. With the Bitcoin market being only slightly fearful right now, it seems the pullback in the cryptocurrency hasn’t been enough to deal a heavy blow to investor morale. Naturally,\u00a0 a pullback can still occur for the coin, but it may be less likely if sentiment worsens further. BTC Price Bitcoin has dropped more than 3% over the past day, which has taken its price to $58,100. Featured image from Dall-E, Alternative.me, chart from TradingView.com<\/p>\n","protected":false},"author":542,"featured_media":642329,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[88240],"tags":[428,84333,88463,6481,16924,86409,1119,78790],"class_list":["post-642313","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news","tag-bitcoin","tag-bitcoin-fear","tag-bitcoin-fear-greed-index","tag-bitcoin-rally","tag-bitcoin-recovery","tag-bitcoin-sentiment","tag-btc","tag-btcusdt"],"acf":[],"yoast_head":"\nBitcoin Investors Succumb To Fear As BTC Erases $60,000 Weekend Recovery<\/title>\n<meta name=\"description\" content=\"Data shows the Bitcoin sentiment has switched to being fearful after the retrace BTC has seen to the $58,000 level during the past day.\" \/>\n<meta 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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. On top of that, he also has a more traditional strength based program for the gym, which he does to maintain an overall fitness level of his body.","sameAs":["https:\/\/www.linkedin.com\/in\/keshavverma29\/","https:\/\/x.com\/https:\/\/twitter.com\/keshavvarma29"],"url":"https:\/\/wncen.com\/author\/hououinkyouma29\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Investors Succumb To Fear As BTC Erases $60,000 Weekend Recovery","url":"http:\/\/wncen.com\/bitcoin-news\/bitcoin-investors-btc-erases-60000-weekend-recovery\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/bitcoin-news\/bitcoin-investors-btc-erases-60000-weekend-recovery\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/09\/btc_e59b4a.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/09\/btc_e59b4a.png?fit=1792%2C1024"},"articleSection":"Bitcoin News","author":[{"@type":"Person","name":"Keshav Verma"}],"creator":["Keshav Verma"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin fear","bitcoin fear & greed index","bitcoin rally","bitcoin recovery","bitcoin sentiment","btc","btcusdt"],"dateCreated":"2024-09-17T04:30:43Z","datePublished":"2024-09-17T04:30:43Z","dateModified":"2024-09-17T04:30:43Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Investors Succumb To Fear As BTC Erases $60,000 Weekend Recovery\",\"url\":\"http:\\\/\\\/wncen.com\\\/bitcoin-news\\\/bitcoin-investors-btc-erases-60000-weekend-recovery\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/bitcoin-news\\\/bitcoin-investors-btc-erases-60000-weekend-recovery\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/09\\\/btc_e59b4a.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/09\\\/btc_e59b4a.png?fit=1792%2C1024\"},\"articleSection\":\"Bitcoin News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Keshav Verma\"}],\"creator\":[\"Keshav Verma\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin fear\",\"bitcoin fear & greed index\",\"bitcoin rally\",\"bitcoin recovery\",\"bitcoin sentiment\",\"btc\",\"btcusdt\"],\"dateCreated\":\"2024-09-17T04:30:43Z\",\"datePublished\":\"2024-09-17T04:30:43Z\",\"dateModified\":\"2024-09-17T04:30:43Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/09\/btc_e59b4a.png?fit=1792%2C1024","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/642313"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/542"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=642313"}],"version-history":[{"count":5,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/642313\/revisions"}],"predecessor-version":[{"id":642390,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/642313\/revisions\/642390"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/642329"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=642313"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=642313"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=642313"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}