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BTC not yet ready for a new all-time high despite bullishness

BTC may be bullish as it approaches $6.6 million, but it's not ready for a new all-time high, Cointelegraph reports. In addition to recession fears, China's USDT has traded lower against the dollar over the past two weeks, and there has been no change in the funding rate of BTC futures on the whales' or institutions' favorite monthly futures contracts. This is evidence of a lack of investor confidence, the outlet analyzed.

Crypto 'Fear-Greed Index' 32...Fear persists, with nearly $1.1 billion in options expiring today.

Crypto data provider Alternative's self-estimated “Fear-Greed Index” fell seven points from the previous day to 32. The fear phase persists due to deteriorating sentiment. The index indicates extreme fear in the market, with readings closer to zero indicating extreme fear, and readings closer to 100 indicating extreme optimism.

blockchain crypto cryptocurrency bitcoin price upside left according MVRV ratio (SpotedCrypto)

BTC's MVRV ratio below previous bull market cycle peaks... plenty of upside left

“BTC's short-term investor MVRV (realized value to market value) ratio peaked at 2.64 this year, below the previous cycle highs of 4.35 (2017 peak) and 3.7 (2021 peak),” said CryptoBasic, citing data from crypto market data analytics platform Into the Block. The on-chain data suggests

blockchain crypto cryptocurrency fear greed index 41 BTC 60K (SpotedCrypto)

Crypto 'Fear-Greed Index' 41...Fear persists, BTC 60K at stake.

Crypto data provider Alternative's self-estimated “Fear-Greed Index” rose four points from the previous day to 41. Confidence has improved but remains in the fear phase. The index indicates extreme fear in the market, with readings closer to zero indicating extreme fear, and readings closer to 100 indicating extreme

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