🚀 The Bitcoin Greed & Fear indicator has yet to reach a contrarian buy level

👇 1-10) We expected that Q1 would be challenging to trade. Volumes in Korea have declined to the lowest level since early October ($1.2bn on Upbit 24 vs. $7.7bn on Jan 12), and Dogecoin has become the most actively traded coin in Korea, a sign that even those creative crypto punters are running out of fresh ideas.

👇 2-10) The Bitcoin dominance indicator holds firm, marginally sub-50%, and for higher beta coins to outperform, we need this indicator to drop lower. Our Bitcoin Greed & Fear indicator is still not at contrarian buy levels, with the moving average dropped to 52%. A reading below 20% has been triggered twice during the last 18 months: November 25, 2022, when Bitcoin traded at 17,000, and September 6, 2023, when Bitcoin traded at 26,500. Both turned out to be great buying opportunities.

Subscribe to Premium Membership to read the rest.