Rain, wind, and sun in spring may Bitcoin blossoms bring. Some clouds are expected, but the sentiment, for now, is still sunny for BTC.
at the sentiment gauge of the Crypto Fear & Greed Index, however, the need for a time out becomes all the more apparent. In under a week, its normalized score went from 22/100 —"extreme fear" — to 60/100 —"greed" and its highest level since mid-November.
Since the local top, the score has already begun falling toward"neutral" territory, and measured 56/100 as of March 30.Analyzing the sentiment issue, social media users macro forces at work, which traditionally spell trouble for risk assets in order to argue that enthusiasm around Bitcoin was overheated.The highest inflation in 40 years and interest rates near zero hardly provide a fertile risk-on environment, they argued.
A look at gold markets, however, could show that the trend is going nowhere despite central bank measures to tame inflation. Material Scientist, creator of on-chain analytics resource Material Indicators, noted that gold futures deliveries wereHayes had warned that gold would skyrocket once it became apparent that saving in major fiat currencies was a lame bet.
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