Looking at the crypto fear & greed index for Bitcoin after the period when the asset faced its minimums, you can notice trust rebuilding.
Bitcoin remains to be decisively ineffective. Price fluctuations that made BTC struggle to surpass $10K, lead to that crypto fear & greed index decreased to the threshold of 50 points. This is an index that gives strong signal of the positive sentiment, and this is why the price growth was accompanied by rebuilding of investors’ trust. This is complemented by the support coming from the investors positions for BTC options and strengthens market confidence.
If we look at the technical indicator of the “put-call” relation, the correlation of options reaches the absolute historical minimum that demonstrates how the statistically low areas are determined, the areas that make investors search for levels of the further upward increase by the basic asset.
Furthermore, the volatility declined to the mid level over the last month, and this is the level that hadn’t been seen six months before the sharp surge in March – lower than 4%.
All the above mentioned may point at that Bitcoin may expect further growth in the nearest future.