Bitcoin Market May ‘Cool Off’ In 4 To 6 Weeks — But Here’s What Needs To Happen

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Bitcoin Market May ‘Cool Off’ In 4 To 6 Weeks — But Here’s What Needs To Happen - NewsBTC

Quick Summary:

Historically, periods of extreme fear have been correlated with market bottoms while price corrections usually occur during extreme greed.According to Adler Jr., the 90-day simple moving average (SMA) of the Bitcoin Fear and Greed Index has fallen by approximately 22 percentage points over the past two months.

Going further, the on-chain analyst mentioned that if the Bitcoin Fear and Greed Index drops by another 10 to 15 points in the near future, the market may experience a cooling-off period where participants could have become accustomed to negative factors and emotional price movements may even subside.

Related Reading: Ethereum Price Nears Major Resistance At $2,200, Why A 13% Crash Could Follow The Bitcoin Fear and Greed Index refers to a metric that aggregates the average sentiment of investors in the BTC market.