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Bitcoin "Fear & Greed" Index Surges to Neutral Zone

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Sat, 11/20/2021 - 15:14
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Vladislav Sopov
Crypto markets are recovering from painful dropdown, sentiment indicators are back to neutral zone
Bitcoin "Fear & Greed" Index Surges to Neutral Zone
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The Bitcoin Fear & Greed Index, an indicator utilized to display whether social media users are, on the whole, optimistic or pessimistic about the short-term dynamics of the crypto king, shows signs of recovering.

Fear & Greed Index recovers from seven-week bottom

According to data shared by the Alternative.me web portal, the Bitcoin "Fear & Greed" Index started recovering after losing 50% in three days.

While it is still in the sub-50 zone that refers to "Fear" territory, it inches closer to "Neutral" and now sits at 43/100.
Yesterday, on Nov. 19, 2021, the index bottomed out at 34/100, its lowest level registered since early October. As such, it managed to avoid plummeting to the "Extreme Fear" zone.

Only ten days ago, on Nov. 9, 2021, the Index revisited its eight-month high at 84/100. This upsurge is associated with Bitcoin's rally to its all-time high.

Related
Bitcoin Touches $69K for the First Time

On Nov. 10, 2021, the flagship cryptocurrency spiked over $69,000 for the first time in its entire history on the news of the record-breaking inflation jump in the U.S.

$1.1 billion in shorts and longs liquidated in three days

However, this splendid run was replaced by a painful correction. Bitcoin (BTC) erased all of its gains since mid-October in hours, plunging to $56,500.

These rollercoasters resulted in massive liquidations for all major crypto trading pairs.

According to data shared by analytical dashboard Coinglass (formerly Bybt), crypto traders lost more than $1.12 billion between Nov.16 and 18.

Image by Coinglass
Image by Coinglass

The vast majority of positions liquidated were opened by Bitcoin and Ethereum bulls.

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About the author

Blockchain Analyst & Writer with scientific background. 6+ years in IT-analytics, 3+ years in blockchain.

Worked in independent analysis as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)