Matrixport: Bitcoin Fear Index falls to 9%, reaching extreme fear zone, possibly signaling a short-term Rebound.

Golden Finance reports that Matrixport has released its daily chart analysis stating, "Our real-time Bitcoin Greed and Fear Index (current reading at 9%) has once again fallen below 10% (the index ranges from 0%-100%) — Historically, this level marks the market entering an 'extreme fear' state. From a strategic perspective, such readings often precede a short-term Rebound in the market, so this may also become a Reverse bullish signal. However, we would prefer to see the 21-day moving average of the index also bottom out and rebound, which has not yet occurred. Adding to this, last week the Bitcoin exchange-traded fund (BTC ETF) recorded an outflow of 1.2 billion USD, market uncertainty continues to exist, and the Bitcoin price is below the 21-day moving average, all contributing to the current market sentiment being relatively weak. It is still prudent to maintain a cautious stance until clear macroeconomic or policy catalysts appear to change the market narrative.