Bitcoin Crosses $82,000, But Fear & Greed Still Indicates A Fearful Market

The Fear & Greed Index suggests digital asset traders are fearful even after the latest price recovery above $82,000 that Bitcoin has observed.

Here is how the latest value of the Fear & Greed Index looks:

As displayed above, the indicator has a value of 46, which means that Bitcoin traders are holding a sentiment that leans fearful. The degree of fear is only slight, however, as the metric is sitting right on the edge of the zone.

Though the latest pullback in the metric doesn’t mean that the recovery hasn’t caused any uplift in sentiment. As the chart below shows, the Fear & Greed Index was in the depths of fear during the first half of April.

The indicator was so low back then that it was inside a zone called the extreme fear. This region, which corresponds to values of 25 and lower, indicates the presence of the worst FUD in the market. The index saw a long stay inside this region before the recent Bitcoin recovery rally finally triggered a sustained break.

While the sentiment is currently still inside the fear territory, it’s possible that the investor mood could improve further in the coming days if the current bullish momentum continues. It only remains to be seen, however, how things will play out in the market.

Out of the $211 million in liquidations that Bitcoin-related contracts have witnessed, over $200 million have involved the bearish bets. Overall, short liquidations have amounted to $441 million in the digital asset sector.

Bitcoin has surged to the $82,500 mark following the latest continuation to its rally.