Bitcoin stays out of fear for 11 straight days as price tips near 24K
Bitcoin (BTC) has just clocked its 11th consecutive day outside the “Fear” zone in the Crypto Fear and Greed Index, cementing its longest streak out of fear since March 2022.
Bitcoin Fear and Greed Index is 61 - GreedCurrent price: $23,780 pic.twitter.com/U5gxN3AwnT
It comes as Bitcoin hit $23,955 at 8:10 pm UTC time on Jan. 29, becoming this year’s newest all-time high. Though it has since come back down slightly to $23,687 at the time of writing.
Meanwhile, Bitcoin sentiment is currently sitting firmly in the “Greed” zone with a score of 61, which hasn’t been seen since the height of the bull run around Nov. 16, 2021, when the price was about $65,000.
However, despite Bitcoin’s strong resurgence in recent weeks, market participants continue to debate whether the recent price surge is part of a bull trap or whether there is a real chance for a bull run.
Regardless, the current rally has pushed a lot more BTC holders back into the green.
According to data from blockchain intelligence platform IntoTheBlock, 64% of Bitcoin investors are now in profit.
Those who first bought BTC back in 2019 are now — on average — back in profit too, according to on-chain analytics platform Glassnode.
We can calculate the average acquisition price for #Bitcoin by tracking exchange withdrawals.The chart below shows the average withdrawal price for investors for each year.The average class of 2019+ $BTC is now back in profit (at $21.8k)Live Chart: https://t.co/yuhvydV70c pic.twitter.com/skjrM6w5lH
The average first time buy price for BTC investors in 2019 was $21,800, which means those investors are, on average, up about 9% with today’s current price of $23,687.
Related: Bitcoin eyes $25K as BTC price nears best weekly close in 5 months
Meanwhile, a
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