Bitcoin Greed is In the Building! Will it Collapse?
πΊπΈ The highly anticipated FOMC meetings in the US kick off today, and will conclude tomorrow with an anticipated result of interest rates being cut by 25bps οΏ½
Not financial advice. DYOR.
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πΊπΈ The highly anticipated FOMC meetings in the US kick off today, and will conclude tomorrow with an anticipated result of interest rates being cut by 25bps
π We are seeing the impact of this in Bitcoin's social metrics. Bullish comments are outnumbering bearish comments, making up 64% of comments across social media. This is the highest ratio of crowd greed since July 10th.
π± Historically, markets move the opposite direction of retail's expectations. This doesn't necessarily mean $BTC are due for a correction simply because the crowd is leaning bullish. But it does mean that expectations should be tempered of a huge surge after rate cuts are confirmed tomorrow. And if the unexpected happens, and rates are not cut, there could be a quick correction that catches retailers off guard.
π Track sentiment ratios for any digital asset here, and see what others in crypto can't!
Not financial advice. DYOR.
