Crypto Market Snapshot: Prices, Fear & Greed, Market Sentiment, Dominance & Key Trends
Sapphire Crypto publishes a Monday and Friday crypto market update highlighting the key metrics and data points you need to stay in touch with the market. Subscribe to have the market update delivered to your inbox, along with additional insights and cryptocurrency-related articles. The snapshot provides a quick, convenient way to assess changing market conditions without visiting multiple platforms.
The Market Watch gives you all-in-one access to live prices, the Fear & Greed Index, Crypto Bubbles, the Altcoin Season Index, the latest news articles, and other sentiment-related data. All of your favorite crypto metrics in one place! Each edition also includes an article of the day from the Sapphire Crypto archive. Whether you’re an investor or trader, the Market Watch is designed to provide a concise overview of the crypto market in just a few minutes.
As always, we begin with market sentiment: are market participants bullish or bearish? CoinGlass, a cryptocurrency market data and analytics platform, provides the following sentiment data. To create a free account, visit the official CoinGlass website. Experienced traders and market participants can upgrade to a paid membership for access to additional tools and data.
- Very Bullish – 9%
- Bullish – 17%
- Neutral – 21%
- Bearish – 38%
- Very Bearish – 14%
Monday’s market sentiment does not appear overly bullish, yet the market is rallying. This could indicate that market participants are shorting the market and preparing to short, as data shows overall bullish sentiment at only 26%. However, overall bearish sentiment is sitting at 52%, while neutrality remains largely unchanged at 21%. Remember, this CoinGlass data is essentially longs vs. shorts.
The Fear & Greed index measures cryptocurrency investors’ emotional state and mood. Historically, extreme fear is an attractive level to buy, while extreme greed is often a good level to sell and realize profits. However, never interpret the index in isolation; it is not an absolute mathematical law, but a signal to use alongside additional signals, technical analysis, and on-chain data.
Today’s Crypto Bubbles display a sea of green across the altcoin market. The biggest mover on the day is SUI, up 28.1% at the time of writing. RNDR is another big mover, up 18.5% while most altcoins are printing green candles for the day. Very few projects are in the red today, and nothing is getting much attention. It is good to see that altcoins can still rally, I am sure many were beginning to wonder.
The Altcoin Season Index measures leading altcoins against Bitcoin over a rolling 90-day period. The index ranges from 0 to 100. Regarding individual altcoins, a higher positive reading indicates that market consensus is moving beyond Bitcoin. A negative reading reveals that Bitcoin is dominating the broader crypto market. The Altcoin Season Index is one of the more interesting metrics, as strength against BTC over 90 days is a data point worth considering seriously.
The Altcoin Season Index has shot up to 75, a very strong move indeed. One of the most notable moves in the index is AVAX, now at the top and up 74.9%! This is a very strong shift for the Layer1 project. LINK, SOL, and ETH continue to hold top spots under AVAX. DOT is now up 29.9% after being down more than 30% not so long ago. It appears the index has truly shifted in favor of altcoins over BTC, at least for the past 90 days.
The crypto industry moves and adapts incredibly fast. Stay up to date with the latest developments, news releases, and crypto-related articles shaping the market.
Today’s archive article is a post from 2021 about yield farming and how to avoid impermanent loss. It’s a crucial read for newcomers to the DeFi space, specifically yield farming. Enjoy reading: How To Avoid Impermanent Loss When Yield Farming In DeFi!
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