The Crypto Fear & Greed Index has finally emerged from the “fear” zone, transitioning to neutral for the first time in over two weeks as Bitcoin’s price surged to roughly $115,000 over the weekend.
Currently, the Crypto Fear & Greed Index measures overall market sentiment at a neutral score of 51 out of 100.
This represents an 11-point increase from Saturday’s fearful score of 40 and a rise of more than 20 points since last week, indicating a significant shift in sentiment in recent days.
Trump’s tariff announcement regarding China on October 10 caused the index to plummet from a “greed” score of 71 to a yearly low of 24, resulting in the liquidation of $19 billion in crypto leveraged positions.
“Aggressive” BTC selling is waning
The change in sentiment coincides with a observed reduction in Bitcoin (BTC) selling pressure, as reported by Glassnode, a Bitcoin analytics platform.
In a post on X on Sunday, Glassnode suggested a potential trend reversal, indicating that selling pressure and negative sentiment have likely peaked recently.
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“For the first time since the October 10th flush, both spot and futures CVD [Cumulative Volume Delta] have leveled off, suggesting that aggressive selling pressure has diminished over the past few days,” according to the post, which also stated:
“Funding rates remain below the neutral level of 0.01%, showing no excessive long positions or market froth. In fact, funding has flipped quite negative multiple times in the past two weeks, indicating a cautious approach from participants.”
Looking ahead, the market seems to be predicting another potential interest rate cut by the US Federal Reserve during its meeting on October 29.
At the time of writing, CME Group’s FedWatch indicates a 96.7% likelihood that the Fed will lower rates by a quarter percentage point this week.
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