August 11: The Quiet Recovery
The market's underlying health has completely decoupled from recent price action. Driven by a massive reversal in BTC ETF flows, conditions have fully recovered from the early June slump.
The market's underlying health has completely decoupled from recent price action. Driven by a massive reversal in BTC ETF flows, conditions have fully recovered from the early June slump.
Bitcoin has gained 21% in three sessions, to $78,242. Crypto sentiment ran from 31 to 72 in four days, out of fear and into greed, so the engine subtracted 10 points for today's greed reading and the composite score eased to +17.
Sentiment shifted, then price followed. Snapping a 95-day fear streak sparked a breakout. Fueled by $800M+ in ETF inflows, Bitcoin surged 5%+ past its 200-day trend to hit a +24 score. We will continue monitoring this trend of sentiment front-running capital
Bitcoin's price just woke up. It is testing its 200-day simple moving average for the first time in over three months, currently sitting just 0.8% below the line. With five-day spot ETF inflows accelerating to +$238M and sentiment pulling out of the fear zone, the momentum seems to be shifting.
Crypto sentiment lifted out of the fear zone for the first time since mid-May, and spot Bitcoin ETFs turned net buyers at +$71M. The score eased a point to +23 FAVORABLE as the engine trimmed the contrarian fear bonus.