{"id":474368,"date":"2022-07-15T18:52:23","date_gmt":"2022-07-15T15:52:23","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-is-now-in-its-longest-ever-extreme-fear-period\/"},"modified":"2022-07-15T18:52:23","modified_gmt":"2022-07-15T15:52:23","slug":"bitcoin-is-now-in-its-longest-ever-extreme-fear-period","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-is-now-in-its-longest-ever-extreme-fear-period\/","title":{"rendered":"# Bitcoin is now in its longest-ever &#8216;extreme fear&#8217; period"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a41305fa2e67\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a41305fa2e67\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-is-now-in-its-longest-ever-extreme-fear-period\/#%E2%80%9D_Bitcoin_is_now_in_its_longest-ever_%E2%80%98extreme_fear_period_%E2%80%9C\" >&#8221; Bitcoin is now in its longest-ever &#8216;extreme fear&#8217; period &#8220;<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-is-now-in-its-longest-ever-extreme-fear-period\/#70_days_of_%E2%80%9Cextreme_fear%E2%80%9D\" >70 days of &#8220;extreme fear&#8221;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-is-now-in-its-longest-ever-extreme-fear-period\/#Research_eyes_%E2%80%9Csign_of_potential_breakout%E2%80%9D\" >Research eyes &#8220;sign of potential breakout&#8221;<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Bitcoin_is_now_in_its_longest-ever_%E2%80%98extreme_fear_period_%E2%80%9C\"><\/span>&#8221; Bitcoin is now in its longest-ever &#8216;extreme fear&#8217; period &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-28d77a7a>Bitcoin (BTC) may have avoided fresh losses since falling to $17,600 last month, but the sentiment is on the floor.<\/p>\n<p>Now, one classic crypto market mood gauge is showing just how long and hard the average investor has suffered.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"70_days_of_%E2%80%9Cextreme_fear%E2%80%9D\"><\/span>70 days of &#8220;extreme fear&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>While crypto market sentiment was already &#8220;comparable to funeral&#8221; before the start of 2022, the subsequent price drawdown in Bitcoin and altcoins produced cold feet like never before.<\/p>\n<p>This has now been <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/alternative.me\/crypto\/fear-and-greed-index\/\">quantified<\/a> by the Crypto Fear &amp; Greed Index, a tool that takes multiple sources into account to create an overall score of how the markets are feeling.\u00a0<\/p>\n<p>As of July 15, Fear &amp; Greed has spent 70 days in its lowest bracket \u2014 &#8220;extreme fear&#8221; \u2014 marking of a new bearish record.<\/p>\n<p>The Index consists of five such brackets, with the others being &#8220;fear,&#8221; &#8220;neutral,&#8221; &#8220;greed&#8221; and &#8220;extreme greed.&#8221;<\/p>\n<p>A score below 25\/100 on its normalized scare corresponds to &#8220;extreme greed,&#8221; and it is that score zone that has characterized the past two months. The last time that the market was more optimistic than &#8220;extreme fear&#8221; was on May 5 \u2014 days before the Terra (LUNA) \u2014 now called Terra Classic (LUNC) \u2014 debacle.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-07\/e9df17f0-27fe-4fb0-b087-73ffd9ed9539.png\"><figcaption style=\"text-align: center;\"><em>Crypto Fear &amp; Greed Index (screenshot). Source: Alternative.me<\/em><\/figcaption><\/figure>\n<p>Commenting on the data, Philip Swift, creator of on-chain analytics platform LookIntoBitcoin, noted that this &#8220;extreme fear&#8221; period is longer than even those surrounding the 2018 Bitcoin bear market and March 2020 cross-market crash.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Fear &amp; Greed Index: we have now had the longest ever period of Extreme Fear&#8230;70days!!! <\/p>\n<p>Live chart: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/Jr5151zN7I\">https:\/\/t.co\/Jr5151zN7I<\/a><\/p>\n<p>Potential for a near-term reversal for <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> soon? <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/thyUtLeRP9\">pic.twitter.com\/thyUtLeRP9<\/a><\/p>\n<p>\u2014 Philip Swift (@PositiveCrypto) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/PositiveCrypto\/status\/1547951367465025538?ref_src=twsrc%5Etfw\">July 15, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>2022, despite its bearish overtones, has nonetheless not been without its exuberant phases. The last time that the Index was in its &#8220;greed&#8221; or &#8220;extreme greed&#8221; zone \u2014 which tends to suggest an overheated market \u2014 was in March this year.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Research_eyes_%E2%80%9Csign_of_potential_breakout%E2%80%9D\"><\/span>Research eyes &#8220;sign of potential breakout&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Looking to what could aid Bitcoin and altcoins&#8217; recovery, research firm Santiment, meanwhile, believes that crypto correlation to traditional assets must come down.<\/p>\n<p><strong><em>Related:\u00a0Bitcoin whales still &#8216;hibernating&#8217; as BTC price nears $21K<\/em><\/strong><\/p>\n<p>While already dropping, BTC must continue to strike out on its own and avoid the knee-jerk reaction to central bank monetary tightening over inflation.<\/p>\n<p>&#8220;Crypto grows at its most rapid pace when having very little correlation with equities,&#8221; it <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/santimentfeed\/status\/1547621956874145795\">argued<\/a> in a <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> post on July 14. <\/p>\n<blockquote><p>&#8220;After yesterday&#8217;s CPI report, $BTC &amp; alts have been recovering while the SP500 &amp; Gold drop. If they stay uncorrelated, it&#8217;s a good sign of a potential breakout.&#8221;<\/p><\/blockquote>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-07\/9bc11639-3357-4763-a64b-dd8d2a8b81c6.png\"><figcaption style=\"text-align: center;\"><em>Crypto market cap comparison chart. Source: Santiment\/ Twitter<\/em><\/figcaption><\/figure>\n<p>A more striking inverse correlation to eye has been between crypto and the U.S. dollar, currently near twenty-year highs against a basket of trading partner currencies.<\/p>\n<p>The U.S. dollar index (DXY) continues to trade at around 108 after hitting multiple peaks throughout the week, data from\u00a0TradingView\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/?exchange=BINANCE\">shows<\/a>.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-07\/55845119-b5ad-4e02-b48c-a98f3508ce6b.png\"><figcaption style=\"text-align: center;\"><em>U.S. dollar index (DXY) 1-hour candle chart. Source: TradingView<\/em><\/figcaption><\/figure>\n<p class=\"post-content__disclaimer\">The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.\n<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/bitcoin-is-now-in-its-longest-ever-extreme-fear-period\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Bitcoin is now in its longest-ever &#8216;extreme fear&#8217; period &#8220; Bitcoin (BTC) may have avoided fresh losses since falling to $17,600 last month, but the sentiment is on the floor. Now, one classic crypto market mood gauge is showing just how long and hard the average investor has suffered. 70 days of &#8220;extreme fear&#8221;&#8230;<\/p>\n","protected":false},"author":1,"featured_media":474369,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDcvMzhjN2Q3ZDMtNmIxYi00NjQyLWFhMWItMzYxZjYzMmYzZTkzLkpQRw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,73785],"class_list":["post-474368","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-price","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/474368","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=474368"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/474368\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/474369"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=474368"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=474368"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=474368"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}