The post Bitcoin Indicators Flashed ‘Greed And FOMO’ Despite Mt. Gox’s $9B BTC Shift appeared on BitcoinEthereumNews.com.

Major Bitcoin sentiment indicators rapidly flipped into ‘greed’ territory amid a steep uptick in the crypto space and the strengthening Bitcoin ETF inflows. Bitcoin sentiment has flipped from ‘extreme fear’ to ‘greed’ and ‘FOMO’ within a few days, with Bitcoin gaining at least 12% in the past week. In a July 16 post to X, crypto analytics platform Santiment suggested that caution is needed amid the abrupt bullish Reversal, stating that investors needed to be wise to tread carefully whenever “the crowd has collectively become so bullish without many signs of fear.” Source: Santiment Santiment stated that most of the market’s newfound optimism arose from investors looking optimistically at the possibility of Donald Trump and his crypto-friendly running mate JD Vance getting an election victory in November. In the meantime, in the three days between July 13 and July 16, the Bitcoin sentiment tracker Crypto Fear & Greed Index whipsawed from ‘extreme fear’ to ‘greed’ amid a crypto market rally. Bitcoin gained 12.8% in the past week and is now valued at $64,508, according to TradingView data. Bitcoin has rallied sharply in the last week. Source: TradingView Bitcoin ETF Inflows Reached $300 Million On July 15 Bitcoin exchange-traded funds (ETFs) also displayed signs of strength, with eleven spot Bitcoin funds netting $300.9 million in net inflows on July 15. BlackRock and Ark 21 Shares funds topped the charts, with identical $117.2 million in inflows on the day, based on FarSide Investors data. Inflows into Bitcoin ETFs topped $300 million on July 15. Source: FarSide Bitcoin’s price bounced off its July 5 low of $53,500, which came in an onslaught of German-government-linked BTC sales and souring sentiment arising from fears of the nearly $8.5 billion in BTC getting paid back to creditors of the collapsed crypto exchange Mt. Gox. After Bitcoin…

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Filed under: News - @ July 17, 2024 4:22 pm