{"id":7561,"date":"2022-09-13T17:54:40","date_gmt":"2022-09-13T21:54:40","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=7561"},"modified":"2022-09-13T17:54:40","modified_gmt":"2022-09-13T21:54:40","slug":"investor-sentiment-sees-sharp-positive-spike-following-crypto-market-recovery","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2022\/09\/13\/investor-sentiment-sees-sharp-positive-spike-following-crypto-market-recovery\/","title":{"rendered":"Investor Sentiment Sees Sharp Positive Spike Following Crypto market Recovery"},"content":{"rendered":"

The crypto market has been able to recover above $1 trillion once more after the market rally that was triggered by the Ethereum Merge. This has resulted in more positive market sentiment from investors, causing the Fear & Greed Index<\/a> to move clear of the extreme fear territory. Such spikes in sentiment can often spell positive news for the digital assets in the space.<\/p>\n

Index Moves Into Fear<\/p>\n

Now, even with the positive movement in sentiment, the crypto Fear & Greed Index continues to remain in the fear territory. However, it is a welcome development from last week\u2019s close of 22. With a current score of 34, the index has risen near one-month highs, showing a significant difference in how investors viewed the market last week compared to this week.<\/p>\n

Nevertheless, the market sentiment is still down from where it was last month. The month of August was a rather good one for the market, where bitcoin had reached as high as $25,000, and Ethereum had clocked out at $2,000. In the end, the Fear & Greed Index had moved into a neutral 47, the highest it had been in four months.\u00a0<\/p>\n

However, recent developments on Tuesday morning are likely to send market sentiment back into the extreme fear territory. Following the release of the CPI data, which came in at just 0.1%, the crypto market reacted poorly.<\/p>\n\n

Market cap drops below $1 trillion | Source: Crypto Total Market Cap chart from TradingView.com<\/a><\/p>\n

Bitcoin\u2019s price had dropped sharply from the mid-$22,000s to below $22,000, losing more than $1,000 in a matter of minutes. The crypto market cap lost more than $40 billion dollars in this time, although it continues to hold above $1 trillion still.<\/p>\n

Will Crypto Market Recover?<\/p>\n

The crypto market is currently suffering from the aftermath of a combination of sharp increases and some negative news. A correction was already expected from the market, but the CPI data had pushed it farther down than expected.<\/p>\n

However, bitcoin continues to show support just above $20,000. So if this level holds, it is likely that there will be a sharp bounce leading to another market recovery. This is largely dependent on the digital asset\u2019s ability to continue to hold the $20,000-$20,800. A failure to hold will likely see bitcoin\u2019s price back down below $20,000. If it holds, though, then a climb above $22,000 is likely.<\/p>\n

Bitcoin is currently trading at $20,900 at the time of this writing, down 6.08% in the last 24 hours.<\/p>\n

Featured image from Bitcoinist, chart from TradingView.com<\/p>\n

Follow Best Owie on Twitter<\/a> for market insights, updates, and the occasional funny tweet\u2026<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

The crypto market has been able to recover above $1 trillion once more after the market rally that was triggered by the Ethereum Merge. This has resulted in more positive market sentiment from investors, causing the Fear & Greed Index<\/a> to move clear of the extreme fear territory. Such spikes in sentiment can often spell positive news for the digital assets in the space.<\/p>\n

Index Moves Into Fear<\/p>\n

Now, even with the positive movement in sentiment, the crypto Fear & Greed Index continues to remain in the fear territory. However, it is a welcome development from last week\u2019s close of 22. With a current score of 34, the index has risen near one-month highs, showing a significant difference in how investors viewed the market last week compared to this week.<\/p>\n

Nevertheless, the market sentiment is still down from where it was last month. The month of August was a rather good one for the market, where bitcoin had reached as high as $25,000, and Ethereum had clocked out at $2,000. In the end, the Fear & Greed Index had moved into a neutral 47, the highest it had been in four months.\u00a0<\/p>\n

However, recent developments on Tuesday morning are likely to send market sentiment back into the extreme fear territory. Following the release of the CPI data, which came in at just 0.1%, the crypto market reacted poorly.<\/p>\n

Market cap drops below $1 trillion | Source: Crypto Total Market Cap chart from TradingView.com<\/a><\/p>\n

Bitcoin\u2019s price had dropped sharply from the mid-$22,000s to below $22,000, losing more than $1,000 in a matter of minutes. The crypto market cap lost more than $40 billion dollars in this time, although it continues to hold above $1 trillion still.<\/p>\n

Will Crypto Market Recover?<\/p>\n

The crypto market is currently suffering from the aftermath of a combination of sharp increases and some negative news. A correction was already expected from the market, but the CPI data had pushed it farther down than expected.<\/p>\n

However, bitcoin continues to show support just above $20,000. So if this level holds, it is likely that there will be a sharp bounce leading to another market recovery. This is largely dependent on the digital asset\u2019s ability to continue to hold the $20,000-$20,800. A failure to hold will likely see bitcoin\u2019s price back down below $20,000. If it holds, though, then a climb above $22,000 is likely.<\/p>\n

Bitcoin is currently trading at $20,900 at the time of this writing, down 6.08% in the last 24 hours.<\/p>\n

Featured image from Bitcoinist, chart from TradingView.com<\/p>\n

Follow Best Owie on Twitter<\/a> for market insights, updates, and the occasional funny tweet\u2026<\/p>\n

<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-7561","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/7561","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=7561"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/7561\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=7561"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=7561"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=7561"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}