Bottom In, Extreme Fear is Over: Is Crypto Back For a Bullrun?

[Ben Graham]

Bitcoin traders are starting to see small but telling signs that the mood across the market may be turning after weeks of heavy pessimism. But how is the crypto fear and greed index looking?

Data from social platforms and sentiment trackers now indicate a gradual easing of the fear that dominated most of November, even though traders remain vigilant to economic stress in the broader world.

One of the clearest shifts has shown up on the Crypto Fear & Greed Index, a closely followed measure of investor confidence.

Crypto Fear and Greed Chart

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Is Bitcoin Finally Exiting “Extreme Fear” After Weeks Of Panic?

On Saturday, the index rose to a “Fear” reading of 28. That marked the first move out of the “Extreme Fear” zone since November 10, ending more than two weeks spent at the most bearish level on the scale.

(Source: Alternative.me)

November is usually one of Bitcoin’s strongest months. This year, it moved in the opposite direction. Prices struggled while fear took over the mood.

On November 15, market commentator Matthew Hyland described the index as showing the deepest fear of this cycle. 

(Source: X)

He warned that Bitcoin dominance was heading toward what he called “maximum pain” for traders.

A few days later, on Nov. 23, analyst Crypto Seth shared the same view. “Extreme Fear is an understatement,” he wrote, pointing to how negative sentiment had become.

(Source: X)

But not everyone saw danger in the gloom. Trader Nicola Duke took a different angle. She said periods of deep fear have often marked short-term bottoms in Bitcoin’s price.

(Source: X)

In her view, panic may be losing momentum rather than gaining steam.

What Does an Altcoin Season Index of 22 Signal For The Crypto Market?

Fresh data has added weight to that idea. Analytics firm Santiment said on Wednesday that online sentiment around Bitcoin has turned “generally bullish.” 

The shift came as the price pushed back toward the $92,000 mark.

Social sentiment data indicates a clear shift toward optimism, with positive comments now outnumbering negative ones.

However, Santiment notes that the mood remains fragile. Most talk online focuses on short-term price swings and big-money moves, such as ETF flows and corporate treasury buys. Long-term belief in the asset has yet to take center stage.

(Source: X)

That caution shows up in the numbers from CoinMarketCap. Its Altcoin Season Index sits at 22 out of 100, firmly in “Bitcoin Season” territory. In plain terms, money is sticking with Bitcoin instead of moving into smaller coins.

Then there’s the broader economy. On Friday, Bitwise Europe’s research head, André Dragosch, warned that Bitcoin’s price may not be telling the full story. 

He said markets could be downplaying the risk of a coming recession. That disconnect, he argued, adds stress to a recovery in confidence that still looks shaky.

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