Greed and FOMO in the Market and Positive Bitcoin ETF Inflows

After the first days of July marked by terror in the cryptocurrency market, greed and FOMO return with Bitcoin ETFs registering positive inflows.

Analysts note how sentiment has shifted very quickly in just a few days, bringing a wave of uncontrolled enthusiasm.

Bitcoin makes a violent comeback above $63,000, suggesting it is set to reach new highs.

Let’s see all the details below.

Greed and FOMO reign supreme in the cryptocurrency market

Incredibly, Bitcoin sentiment has changed in just a few days from “extreme fear” for “ambition” and FOMO parallel the return of positive inflows into spot ETFs.

The market reached peak tension in the first days of July, when the German government announced the start of institutional sales of 50,000 BTC.

At that time, the cryptocurrency par excellence had quickly lost 10% of its price, before beginning a recovery phase.

In the last week its price has increased by 12%fully recovering from the previous dump and starting a FOMO phase amid an unstable market.

In a publication on July 16, the analysis platform Santiment noted how it would be necessary to act with caution at this conciliatory time.

According to reports: “the crowd became collectively so aggressive, without much sign of fear.”

While greed has once again reigned supreme, there are still some black swans to chase away, such as the impending Bitcoin liquidations of Mount GOX.

Santiment also said that the cryptocurrency’s latest rally was likely driven by investor optimism following the failed attack on Donald Trump in Pennsylvania

.

On July 12, Bitcoin hit a year-low on the “Fear and Greed Index”, marking panic at 25 points.

In just 4 days, 40 points were addedbringing the situation back to greed and FOMO. This is one of the most significant sudden shifts in emotion in recent months, capable of completely changing the game.
We will see in the coming days whether the trend of enthusiasm will continue or whether fear will once again take center stage.

Source: https://alternative.me/crypto/fear-and-greed-index/

Bitcoin ETFs show positive data for the 7th day in a row: yesterday +$300 million

Crypto exchanges’ recent return to greed and fear of missing out is partly justified by the latest positive inflows recorded by the spot Bitcoin ETF.

According to the graphs reported by SoSoValue As of July 5, approximately $1.5 billion has been added to funds listed on Wall Street.

In the days leading up to this, it seems to have been completely ruled by the bears, as despite the green data in late June, the price of Bitcoin remained stuck in a bearish spot.

Now, however, tensions appear to have eased and influences are once again guiding the market trend, with BTC having reclaimed the key $60,000 level.

Yesterday, capital flows of $300 million were recordedwith negotiation volumes exceeding 2.2 billion dollars. On the same day, the price of Bitcoin increased by 6.46%, closing the day at 64,700 dollars.

Source: https://sosovalue.xyz/assets/etf/us-btc-spot

Much of the success of yesterday’s ETF session can be attributed to the activities of IBIT and ARKB, which brought in inflows of around $117 million.

The background of Black stone remains the largest among those focused on Bitcoin, with a total value of $20 billion. Shades of gray remains in second place with $17.3 billion, while Fidelity closes the podium with 11.29 billion dollars,
More or less all funds in the ETF market closed +10% in trading, following crypto greed and FOMO.

Total net inflows into Bitcoin ETFs now stand at a total value of $16.1 billion with a Total liquid assets equivalent to $56.7 billion.

Source: https://sosovalue.xyz/assets/etf/us-btc-spot

Bitcoin hits $65,000, reigniting investor enthusiasm

At 6:00 AM (UTC+2) with ETF markets closed, Bitcoin was approaching $65,000 amid its peak of greed and FOMO, shortly before recording a slight retraction.

Now, prices are orbiting around the $63,000 mark, remaining firmly above the daily 50 EMA, poised for another bullish run.

The full recovery from the decline in early July is an excellent sign of strength for the crypto asset, which will now have to face new challenges on the horizon.

The narrative of Mt.Gox’s BTC sales, similar to what happened with the German government, could lead to further short-term turbulence.

Despite that Bitcoin’s outlook appears to have returned to positive and marked by the FOMO of speculation. In addition to the positive momentum of the ETF, we highlight a Weak Dollar Index which strengthens cryptocurrency and positive institutional flows into the digital asset sector.

Furthermore, the failed attempt to attack Donald Trump appears to have strengthened his position in the election campaignenough to sustain the enthusiasm and greed in markets like Bitcoin.

Now, the next price target for Bitcoin is $72,000.where there is some attention from futures traders.

In fact, if the bulls manage to bring the prices back to this value, a flood of short settlements will be triggered, adding more fuel to the optimistic fire.
According to what is reported by Coinglass, about $72,000 exists around $20 billion in short positions ready to explode.

Of course, all eyes are on this level, surpassing which could likely open the doors to new all-time highs.

Source: https://www.coinglass.com/pro/futures/LiquidationHeatMap

Source