The post Traders Call For Altseason As Market Greed Increases, Signaling A Local Top In The Coming Weeks appeared on BitcoinEthereumNews.com.

After a weekend slump that saw Bitcoin’s price to drop to $40,300, BTC has bounced back today, reaching $43,000. This shows that traders are still bullish about Bitcoin, which had its strongest November since 2020 and is on an upward trend in December. However, the recent surge in interest towards altcoins has raised eyebrows among market analysts as this might be a clear sign of greed, a potential red flag or market top for investors. Market Faces A Greed Factor The crypto market went through a sharp decline in the past few days, as Bitcoin could not sustain its bullish drive above $44K and fell to $40K. But the market has bounced back as BTC reached $43K, due to investors buying the dip. This has also boosted many altcoins, which are seeing large increases on the price chart, indicating that the greed is settling down. Currently, the fear and greed index trades at 72. Market sentiment plays a crucial role in cryptocurrency valuations. The Fear and Greed Index, a tool used by investors to gauge market sentiment, has shown a noticeable tilt towards greed during this period. Historically, such a tilt has often led to market corrections or downturns. Extreme interest in altcoins, as observed recently, can be an indicator of market traders chasing high returns without due diligence. This behavior is typically associated with greed, a sentiment that can lead to irrational investment decisions. 🤑 When traders show extreme interest in #altcoins, it is more often than not a sign of greed. As many wondered when the local top would finally arrive as #crypto markets surged from mid-October to early December, a reliable signal would be the sentiment (Continued) 👇 pic.twitter.com/4nQ7XAJYa3 — Santiment (@santimentfeed) December 14, 2023 Santiment reported that the market corrected in July, as traders’ excessive demand…

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Filed under: News - @ December 14, 2023 5:24 pm