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

ambcrypto.com:

Bitcoin [BTC] may have disappointed a ton of doubting Thomases after an impressive Year-To-Date (YTD) performance. But as things stand at press time, the arm of defeat has been extended to investors who came late to the party.

Realistic or not, here’s BTC’s market cap 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 metric reveals if transactions in profit are outpacing those in losses or otherwise. At press time, the value was -0.145.

Source: Santiment

This condition implies 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 attempted to hit $30,000 several times.

Although BTC, as a speculative asset, has always had traders and investors torn between fear and greed, the condition tends to be in favor of the latter. After breaking the neutral zone last month, the emotional behavior of the average investors has entirely left the fear region, which probably offers a buying opportunity.  

Instead, the Bitcoin fear and greed index rose to 64. The metric takes into account volatile price movements, dominance, and market momentum, At this point, it meant that investors were tending towards being too greedy. 

Source: lookintobitcoin

But in the last seven days, the index had remained around the same region. This breeds Fear, Uncertainty, and Doubt (FUD) since the BTC consolidation has lasted for a while. Also, the status at the time of writing aligns with a further correction that BTC has experienced in the last few days. 

Meanwhile, the repeated rejection at $29,000