The fear & greed index has returned to the neutral zone which means the crypto market might be entering a period of consolidation. This could be the result of a correction from the recent price surge of BTC to a new all-time high of $30,000. The total crypto market cap is still higher than $1 trillion, which is a good indicator for the market. This shows that the market is still in bull territory on a long-term basis as long as BTC is staying firmly above its 200-day moving average. Signs of extreme fear such as a total crypto market cap of under $1 trillion or BTC dropping below $20,000 would be an indication of a bear market returning in full force. For now, investors and traders should remain vigilant and patient as the market may be in a consolidation period before the next bullish trend.
Leonardo Cox
- 2023-04-24
Crypto Market Consolidation Indicated by Fear & Greed Index
The Fear & Greed Index has returned to the neutral zone which indicates that the crypto market might be entering a consolidation period. The total crypto market cap is still higher than $1 trillion, a sign that the market is likely still in a bull run.
