The Crypto Fear & Greed Index, an indicator that tracks market sentiment toward Bitcoin and crypto, has dropped back to October levels amid a Bitcoin slump in the last days of 2024.
The index clocked a score of 65 per its latest Dec. 30 update, still within greed territory but the lowest since Oct. 15.
According to CoinGecko, the Bitcoin (BTC) price is around the $93,000 mark, down 13.7% in the last 12 days as traders warn of a “huge dump” amid a flock to stablecoins.
The Crypto Fear & Greed Index has consistently stayed above 70 through November and December, after President-elect Donald Trump won the United States election and many pro-crypto politicians won seats in the Senate and House of Representatives. It peaked at a score of 94 on Nov. 22.
Source: Bitcoin Fear & Greed Index
The Crypto Fear & Greed Index is calculated based on signals that impact traders’ and investors’ behavior, including Google Trends, surveys, market momentum, market dominance, social media and market volatility.
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Markus Thielen, analyst and head of research at 10x Research said in a Dec. 29 report that some analysts have been predicting a “timed parabolic move leading up to the Trump inauguration,” followed by a significant correction.
Thielen said he has a different perspective and expects “volatility to increase soon.”
Veteran trader Peter Brandt speculated in a Dec. 28 post on X that Bitcoin could be moving to a Hump Slump Bump Dump Pump pattern.
Source: Peter Brandt
The sequence suggests a price movement with an initial rise (hump), followed by a decline (slump), a subsequent recovery (bump), a further drop (dump), then a rebound (pump).
CryptoQuant founder and CEO Ki Young Ju shared Brandt’s post and said he agreed with the pattern.
Meanwhile, Prem Reginald, a CoinGecko blockchain researcher, said in a Dec. 13 report that Bitcoin is still the top-performing asset of the last decade, outpacing traditional assets by over 26,000%.
Bitcoin has outperformed every other traditional asset over the last decade. Source: CoinGecko
According to Reginald, in 2024, Bitcoin was the best-performing asset with 129% returns. Gold followed with a steady 32.2% year-to-date (YTD) returns while the S&P 500 had 28.3% returns.
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