Phi Deltalytics2023-01-28

Bitcoin Sentiment Reached Greedy Level

Sentiment from Bitcoin short-term on-chain participants (short-term SOPR) has reached the greediest level since January 2021. While SOPR trending above 1 indicates a bullish trend, the indicator is way above 1 right now and overly stretched. Without increase in stablecoin reserves on spot exchanges, the bull fuel could run out quickly.