
Alternative data shows a sentiment drop from 61 to 49, shifting the Bitcoin market mood from greed to neutral amid changes in key indicators.
On January 16, the Bitcoin Fear and Greed Index declined to 49 from 61 the previous day, moving out of the 'greed' range into 'neutral' territory. The index measures values from 0 to 100 using factors such as volatility, trading volume, social media activity, surveys, Bitcoin dominance, and Google search trends. The latest shift suggests a cooling of bullish sentiment compared to earlier enthusiasm in the market.