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Bitcoin’s market steps back from ‘extreme greed’ – A positive sign?

n70products by n70products
January 5, 2025
in Bitcoin
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Bitcoin’s market steps back from ‘extreme greed’ – A positive sign?
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  • Bitcoin exited the ‘excessive greed’ zone and will help sustainable development
  • MVRV and Pi Cycle Prime indicators revealed that BTC nonetheless had room for upside

Bitcoin’s [BTC] market sentiment has exited the “extreme greed” zone for the primary time for the reason that “Trump pump” commerce started in November. This will supply BTC much-needed room to develop.  

In response to the pseudonymous on-chain analyst Dark Fost, the “excessive greed” part marked an overheated market and a possible pullback. In response to Fost, that is what led to the cryptocurrency’s decline from $108k to almost 90k.  

Bitcoin

Supply: Alphractal

A set-up for a sustained BTC rally?

Moreover, new market curiosity in Bitcoin, as tracked by Google Tendencies, dropped considerably because the asset declined under the $100k milestone.

Traditionally, a surge throughout Google Tendencies is all the time related to euphoria and potential market corrections or tops. 

BitcoinBitcoin

Supply: CryptoQuant

Taken collectively, Darkish Fost famous that the aforementioned developments imply that BTC has extra room for development within the close to time period. He acknowledged, 

“General sentiment stays optimistic, but curiosity from potential newcomers stays comparatively low, it could result in the continuation of the bullish part within the mid-term.”

His remark was echoed by the True MVRV (Market Worth to Realized Worth) – A metric used to gauge whether or not BTC is overvalued and to trace the market cycle. 

BitcoinBitcoin

Supply: CryptoQuant

The metric precisely pinned earlier native and market cycle tops. The truth is, the 2024 March and December tops have been triggered when the metric tapped 2. Normally, a surge to 4 marked a cycle prime. 

On the time of writing, the metric had retreated to 1.7 and was removed from 4, suggesting that BTC’s cycle prime wasn’t shut. 

One other cycle prime indicator, the Pi Cycle prime, was removed from triggering this market peak. The metric flagged earlier market peaks when the 111-day transferring common crossed the modified 350-day transferring common and cycle.  


Learn Bitcoin [BTC] Price Prediction 2025-2026


BitcoinBitcoin

Supply: Bitbo

In abstract, BTC’s retreat from “excessive greed” will be seen as a welcome aid for prolonged and sustainable development within the mid-term. The potential for upside was additional illustrated by key market cycle prime indicators that have been but to set off a possible peak for the cryptocurrency. 

Earlier: Assessing TON’s price breakout and where altcoin might be heading
Subsequent: Is Bitcoin’s price action at risk? Here’s why traders should watch out!



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Tags: bitcoinsextremeGreedMarketPositiveSignsteps
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