Bitcoin is now in its longest-ever 'extreme fear' period

07/16 03:38

As of July 15, Fear & Greed has spent 70 days in its lowest bracket — "extreme fear" — marking of a new bearish record. The Index consists of five such brackets, with the others being "fear," "neutral," "greed" and "extreme greed." A score below 25/100 on its normalized scare corresponds to "extreme greed," and it is that score zone that has characterized the past two months. The last time that the market was more optimistic than "extreme fear" was on May 5 — days before the Terra (LUNA) — now called Terra Classic (LUNC) — debacle. Commenting on the data, Philip Swift, creator of on-chain analytics platform LookIntoBitcoin, noted that this "extreme fear" period is longer than even those surrounding the 2018 Bitcoin bear market and March 2020 cross-market crash. 2022, despite its bearish overtones, has nonetheless not been without its exuberant phases. The last time that the Index was in its "greed" or "extreme greed" zone — which tends to suggest an overheated market — was in March this year.
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