Market Sentiment Shoots Up As Bitcoin Eyes $25,000

Market Sentiment Shoots Up As Bitcoin Eyes $25,000

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Market Sentiment Shoots Up As Bitcoin Eyes $25,000

NewsBTC2 months ago
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Published on August 11, 2022 17:00 GMT+00:00edited on August 12, 2022 11:19 GMT+00:00

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The crypto market sentiment had taken a beating when the price of bitcoin fell to a new cycle low of $17,600. With this, investor sentiment had plummeted to new yearly lows. But slowly, the market sentiment had recovered and made its way out of the extreme fear territory. That is until now when the market sentiment has recorded an enormous push upward off the back of another market rally.

Sentiment Turning Green

The crypto market sentiment has been on an uptrend since the recovery started back in July. When the price of bitcoin first hit $24,000 for the first time since the market trend, the market sentiment had quickly moved out of the extreme fear territory.

Despite the recovery in the market, the market sentiment was still mainly in the red, and the score on the Fear & Greed Index …