Bitcoin Fear & Greed Index Signals Fear: Details

As a seasoned researcher with over two decades of experience in the financial markets, I find myself constantly intrigued by the dynamic nature of Bitcoin and its correlation with macroeconomic indicators. This past weekend has been no exception, as I watched the BTC Fear & Greed Index oscillate between “fear” and “neutral” zones, reflecting the market’s uncertainty and apprehension.


This past Friday, the Bitcoin Fear & Greed Index dipped into the “fear” area, reaching a score of 37, as indicated by information from CryptoQuant.

Bitcoin Fear & Greed Index Signals Fear: Details

On a Saturday morning, there are indications that the index might be on its way to recovering and maintaining itself within the neutral range. Presently, the Bitcoin Fear & Greed Index reads 47, categorizing it as a ‘mild’ level of fear or anxiety in the market.

The flagship cryptocurrency has risen 1.15% since then and is now traded at $62,222.

Bitcoin Fear & Greed Index Signals Fear: Details

U.S. job market: New hope

On Friday, Bitcoin experienced a 3% increase, soaring over $62,000, due to a robust U.S. employment data report that exceeded expectations.

In September, the report indicated an unexpected surge in job creation, totaling approximately 254,000 positions – far beyond the experts’ predicted 140,000 – which suggests a strong and vibrant United States economy.

As an analyst, I observed a decline in the unemployment rate from 4.2% in July to 4.1% in August. Given the recent trend of slowing inflation, this data seems to diminish the possibility of additional significant interest rate reductions by the Federal Reserve.

Institutional investors buying dip?

Based on findings from a Farside Investors report, it appears that BlackRock was the sole asset manager who acquired Bitcoin during this specific timeframe, investing approximately $40.8 million in Bitcoin on October 1.

On the flip side, significant investment funds such as WisdomTree’s BTCW, CoinShare Valkyrie’s BRR, Franklin Templeton’s EZBC, and Invesco’s BTCO did not execute any trades during this period.

Simultaneously, VanEck, Ark Invest, Bitwise Asset Management, and Fidelity Corporation have each sold substantial quantities of Bitcoin. Specifically, they offloaded approximately $15.8 million, $84.3 million, $32.7 million, and $144.7 million worth of Bitcoin respectively.

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2024-10-05 14:10