The Bitcoin Fear & Greed Index finally broke out of the “fear” zone on Sunday, returning to neutral levels for the first time in more than two weeks, as Bitcoin’s price soared to around $115,000 over the weekend.
The Bitcoin Fear & Greed Index, which measures overall market sentiment, currently sits in the “neutral” zone with a score of 51 out of 100.
He’s up 11 points from Saturday’s terrifying 40 points and is up more than 20 points from last week, and his form has changed dramatically in recent days.
Current Bitcoin Fear and Greed Score. Source: Alternative.me
President Trump’s announcement of tariffs on China on October 10 liquidated $19 billion in crypto leverage positions, sending the index plummeting from a “greedy” score of 71 to a year-to-date low of 24.
“Aggressive” BTC selling declines
According to Bitcoin analysis platform Glassnode, this change in sentiment comes amid a recent decline in selling pressure on Bitcoin (BTC).
Glassnode suggested in an X post on Sunday that a trend reversal is underway as selling pressure and negative sentiment already appear to be at an extreme.
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“For the first time since the October 10 flash, spot and futures CVD (cumulative volume delta) has flattened out, indicating that the aggressive selling pressure over the past few days has subsided,” the post said, adding:
“The funding rate remains below the neutral level of 0.01%, indicating no excessive long positions or frothiness.In fact, we have seen funding turn very negative several times over the past two weeks, indicating that participants are becoming cautious.”
Glassnode Bitcoin data breakdown. sauce: glass node
Looking ahead to other potentially bullish indicators, the market appears to be expecting the U.S. Federal Reserve to cut rates further at its Oct. 29 meeting.
As of this writing, there is a 96.7% chance the Fed will cut interest rates by 0.25% this week, according to CME Group FedWatch data.
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