Greed

Bitcoin

<h2 id="key-points">Key Points</h2> 
<ul> 
 <li>The Bitcoin fear and greed index has moved to a neutral score of 48, indicating a balanced market sentiment.</li> 
 <li>Bitcoin has surpassed its 200-day moving average, currently trading around $64,850 after a 3% increase.</li> 
</ul>  
<p>The Bitcoin fear and greed index, a measure of market sentiment, has recently moved to a neutral score of 48. This shift indicates a balanced sentiment among traders, moving away from the previous extremes of fear and greed.</p> 
<h2 id="market-sentiment-stabilizes">Market Sentiment Stabilizes</h2> 
<p>According to data from Glassnode, the Bitcoin fear and greed index currently sits at 48, suggesting a neutral market sentiment. This shift marks a change from the previous heightened states of fear and greed that accompanied recent price swings.</p> 
<p>The index gauges market sentiment by considering factors such as volatility, volume, and social media trends. The current neutral score suggests that traders are now adopting a more cautious, wait-and-see approach following a period of intense market movements.</p> 
<p>Earlier in the week, the index dropped to 32, indicating a state of fear among traders. This drop coincided with a price increase for <a href="https://coineagle.com/price/bitcoin/">Bitcoin (BTC)</a>, which reached approximately $62,000. Despite the price increase, the market sentiment remained cautious, likely as a response to previous price declines.</p> 
<h2 id="bitcoin-s-price-movements">Bitcoin’s Price Movements</h2> 
<p>Before the recent increase, Bitcoin had experienced a series of declines, dropping its value to around $60,000—a level below its 50-day moving average. However, the market rebounded on the 11th of October, with Bitcoin seeing a 3% increase that brought its price back to $62,500, pushing it above the 50-day moving average.</p> 
<p>Despite this, the price remained below its 200-day moving average, a stronger resistance level. At the time of writing, Bitcoin is trading at approximately $64,850, gaining another 3%. This upward trend has allowed Bitcoin to break past the 200-day moving average, which had previously acted as resistance around the $63,000 price mark.</p> 
<p>The combination of these price movements and the neutral sentiment on the Bitcoin fear and greed index suggests that the market is currently in a state of cautious optimism.</p> 
<p>Despite the shifting sentiment, the number of active Bitcoin addresses has remained remarkably stable. Data from Santiment shows that the seven-day average of active addresses has stayed consistent, with around 3.5 million active addresses. This steady number of active addresses suggests ongoing interest from long-term holders, which could serve as a foundation for future price increases.</p>

Bitcoin’s Fear and Greed Index Stabilizes Alongside Price Fluctuations

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CoinEagle.com

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