CandleFocus Analytics Company Claims Market “Entered FOMO Level”, Shares Expectations for Bitcoin
2024-09-28
Author: Content Editor
Bitcoin has recently surged above $66,000, leading to excitement among traders. However, cryptocurrency analytics firm Santiment warns that this could lead to a correction as the market sentiment reaches levels of greed. They define a threshold of around $63,000 for the greed level and believe that a fall to $53,000 would result in fear and more possibilities on the bullish side. They also note that the market behaves less predictably in the neutral zone between $63,000 and $53,000. Santiment analysts do not believe that Bitcoin will be bought again after falling to the $50,000 or $60,000 region unless there are alarm signals from the world economies. Meanwhile, Ethereum has outperformed Bitcoin this week, and meme coin Shiba Inu has experienced a significant rise.
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