- Seasoned analysts state that a Bitcoin rally is in preparation.
- The Crypto Fear & Greed Index nears forming a local bottom.
- Analysts notice ETH and BTC also showing signs of printing a local bottom.
The crypto market faced a continuous few days of market crashes where the price of Bitcoin (BTC) fell from $98,000 to $82,000. The reasons behind the crash could be FUD caused by Trump’s new tariff announcements. large market and exchange manipulations, or perhaps even the Bybit hack. Still, seasoned analysts believe a Bitcoin rally is in preparation.
Bitcoin Rally is in Preparation
So far, many analyst have shared how Bitcoin and Ethereum are showing signs of printing their local bottom prices. The same is now being said of the Crypto Fear & Greed Index which also seems to be nearing a local bottom. Usually, when any indicators mark a local bottom, it indicates that the following days are green and bullish.
In particular, the post above indicates how the last time the Crypto Fear & Greed Index marked a local bottom, was in August 2024. The post then highlights that at that time Bitcoin price moved exponentially from $49,000 to $108,000 in about three months. Perhaps this is a price explosion we will see once again this year.
Bitcoin Local Bottom Formation
Similarly, another analyst highlights the same observation where the Crypto Fear & Greed Index just flashed its lowest reading since the October lows last year. As we can see from the post above, the analyst says the nervous tension in the air is similar to the last time and this energy led Bitcoin (BTC) to form a local bottom.
