According to Coinglass, the ‘extreme greed’ phase of Bitcoin euphoria fell to $61,000 in 13 days, sending investor sentiment back to plain ‘greed’. As of press time, Bitcoin is trading at $63,700, down 13% from its all-time high.
Current sentiment, at a level of 74 out of 100 on the Fear and Greed Index scale, is consistent with the optimism shared by the market ahead of the expected Bitcoin ETF approval in early January.
Over the past year, Bitcoin has spent just 11 days in the fear phase, most of that time in the neutral sentiment zone at 48% (178 days), with greed right behind it at 44% (163 days).
The last time Bitcoin sentiment showed prolonged fear was January 2023, and extreme fear has not been seen since November 2022.
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