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๐จ INDEX MARKET SENTIMENT INDICATES MOMENT OF GREED ๐ฅ - NEW INDEX AVAILABLE NOW!
The MARKET SENTIMENT INDEX is an index for measuring market sentiment (Fear/Greed) over a given period. I created this Index based on the main market sentiment indicator: CRYPTO FEAR AND GREED INDEX - data by alternative.me and with addition of two on-chain sentiment metrics from Bitcoin futures market. The two metrics used is Funding Rates and Open Interest. To see in detail about the composition of the Index and how the aggregation of the metrics works to put together the Index Market Sentiment, see the full Dashboard here at CryptoQuant via the link below ๐๐ป https://cryptoquant.com/analytics/dashboard/642616cc0d4ebe1efd3a37ac The Index is measured from 0 - 100 for 5 phases of market sentiment: Extreme Fear, Fear, Neutral, Greed and Extreme Greed. The legend on the chart shows the colors for each sentiment phase. To observe potential Top/Bottom regions in the Bitcoin price we will visualize only the moments of Extreme Fear and Extreme Greed. -Values below 25 is moment of Extreme Fear. -Values above 75 is a moment of Extreme Greed. The last two moments when the indicator pointed to Extreme Greed the Bitcoin price was quoted around $50,000 in September 2021 and further on above $60,000 at the end of October 2021. In the last two moments when the indicator pointed to Extreme Fear the Bitcoin price was quoted around $19,000 in mid-June 2022 and further on between $19,000 - $16,000 in November 2022. Currently the price has entered the Neutral Region since the last period of Extreme Fear cited above, alternating between Fear/Greed during the recent price recovery to $31,000. Therefore, there is a high probability that a potential bottom has been reached following the market sentiment dynamics with room for a continuation in the price recovery until reaching the Extreme Greed region!