'Fear' returns to Bitcoin while long-term holders own just 3% of BTC unrealized losses

'Fear' returns to Bitcoin while long-term holders own just 3% of BTC unrealized losses


Bitcoin (BTC) diving nearly 20% from all-time highs has finally taken its toll on market sentiment — investors are now “afraid.”

According to the Crypto Fear & Greed Index, overnight losses on Nov. 19 removed the last traces of “greed” away from traders’ minds.

From “greed” to “fear” in two days

Trending: WATCH: Republican Voter In Florida Congressional Race Was Told By Poll Worker That Republicans Could Not Vote

As BTC price action headed lower this week, sentiment played catch-up as spot price contrasted with still bullish signals from markets.

Derivatives traders were — and to an extent still are — in a phase of exuberance, with some still betting on a dramatic price rebound in the short term.

Overall sentiment, as measured by the Crypto Fear & Greed Index, has now changed to correspond to spot more closely.

At the time of writing, the Index measured just 34/100

Continue reading

You Might Like

 

Join the conversation!

Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!

Thanks for sharing!
Send this to a friend