Bitcoin [BTC]: What the royal coin’s FOMO and FUD indicators suggest

• Bitcoin’s volume in earnings ratio fell into the negative zone.
• Investors doubted a further price increase even as the fear and greed index rose.

Bitcoin [BTC] may have disappointed plenty of doubting Thomases after an impressive year-to-date (YTD) performance. But as of press time, the arm of defeat has been extended to investors who arrived late to the party.

Realistic or not, here it is BTC’s market value in ETH’s terms

According to Santiment, the coin’s daily on-chain transaction volume in profit-to-loss ratio fell into the negative region for the first time in five weeks. This calculation reveals whether transactions in profit exceed those in loss or otherwise. At press time, the value was -0.145.

Source: Sentiment

Cravings of the covetous

This condition implies that a significant number of investors have bought BTC above the press time price. A simplification here means that the fear of missing out has been triggered (FOMO) since the king coin tried to reach $30,000 multiple times.

Although BTC, as a speculative asset, has always had traders and investors torn between fear and greed, the state of affairs tends to favor the latter. After breaking the neutral zone last month, the emotional behavior of the average investor has completely left the fear region, which likely offers a buying opportunity.

Instead Bitcoin Fear and Greed Index rose to 64. The calculation takes into account volatile price movements, dominance and market momentum. At this point, that meant investors tended to get too greedy.

Source: lookintobitcoin

But for the past seven days, the index had stayed around the same region. This breeds fear, uncertainty and doubt (FUD) since the BTC consolidation has been going on for a while. The status at the time of writing corresponds to one further correction as BTC has experienced in recent days.

Sideways trend leads to skepticism

Meanwhile, the repeated rejection at $29,000 and subsequent correction appeared to have dampened belief in a further rally. This was taken from the weighted sentiment drop to 0.646.

When this calculation falls, it indicates that public opinion about the asset was rarely positive. But historically, prices probably will increase when the feeling falls. However, this only occurred when the weighted sentiment combining the positive and negative perceptions reaches extremely low levels.

How much is 1,10,100 BTCs worth today?

In addition, Bitcoin active addresses have lost the momentum they had earlier in the year. The calculation measures user interaction and growth by assessing the transaction on the network.

At press time, the 30-day active addresses were 17.65 million. But in general there has not been a large influx. Often this situation is associated with low demand, which can lead to bearish market momentum.

Source: Sentiment