Crypto’s Newfound Optimism? More Like a Slight Nod to Hope!

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After 18 days of existential dread, the crypto market finally took a deep breath and said, “Okay, maybe we’re not all going to die today.” 🤯

The Crypto Fear & Greed Index, that trusty barometer of our collective anxiety, posted a “Fear” score of 28 on Saturday. The first time since Nov. 10 that it hasn’t screamed “EXTREME FEAR” like a banshee with a PhD. 🐺

The prolonged stretch near the index’s most bearish level for the majority of November, historically Bitcoin’s (BTC) best-performing month on average, did not go unnoticed by the broader crypto community. Because nothing says “I’m a professional” like obsessing over a graph that looks like a rollercoaster with a death wish. 🎢

“Extreme Fear” readings have typically marked bottoms, says trader

On Nov. 15, crypto analyst Matthew Hyland pointed out that the index was at the “most extreme fear level” of the entire cycle. “A path like this for BTC Dominance would now be max pain,” Hyland said at the time. Just days later, on Nov. 23, crypto analyst Crypto Seth said, “Extreme Fear is an understatement.” Because nothing says “I’m a genius” like repeating the same phrase with more emphasis. 🤯

However, crypto trader Nicola Duke said that every time extreme fear has been on the index, it has marked a “local bottom” for Bitcoin. Because who needs actual data when you can just repeat the same mantra? 🌀

Other indicators have since suggested that sentiment may be recovering. Crypto sentiment platform Santiment said on Wednesday that Bitcoin was showing “generally bullish sentiment” after Bitcoin climbed back to nearly $92,000, citing its social media bullish-to-bearish sentiment indicator. Because nothing says “bullish” like a number that’s still way lower than your mom’s savings account. 💸

Crypto market still appears to be in risk-off mode

Santiment said that market discussions surrounding Bitcoin on social media have focused on price volatility, and institutional activity, including ETFs and treasury purchases. Because nothing says “I’m a sophisticated investor” like talking about ETFs while your portfolio looks like a toddler’s drawing. 🎨

However, crypto market participants still appear to be hesitant and in risk-off mode, according to CoinMarketCap’s Altcoin Season Index, which currently sits firmly in “Bitcoin Season” with a score of 22 out of 100 – a metric that oscillates between Altcoin and Bitcoin season readings. Because nothing says “confident” like a score that’s basically a middle finger to your hopes. 👌

On Friday, Bitwise Europe‘s head of research, André Dragosch, said Bitcoin’s price has been misaligned due to a misreading of the broader macroeconomic outlook, particularly growing expectations of an upcoming recession. “The last time I saw such an asymmetric risk-reward was during COVID,” Dragosch said. Because who doesn’t want to be reminded of 2020 when things were just… slightly less chaotic? 🧠

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2025-11-29 08:29