Matrixport: The current sentiment is diverging from the fundamentals, which may signal that the market could enter a cooling-off period in the short term
BlockBeats News, July 30th, Matrixport released today's market analysis stating, "The current Greed and Fear Index is approaching a high level, and the slow moving average is also starting to show a top signal. Looking back at history, whenever this indicator is in an upward phase, the Bitcoin price usually shows strong performance; however, once it starts to decline, it often means that the market sentiment is beginning to cool off, and investors need to be more cautious."
Back in early July, we made a bullish judgment that was different from the mainstream view, but as the market evolved, we have also shifted to a more cautious stance, expecting Bitcoin to enter a consolidation phase in August. The latest trend of the Greed and Fear Index has also confirmed this judgment: despite continuous positive news, the market momentum has weakened.
The current sentiment is diverging from the fundamentals, which may indicate that the market could enter a cooling-off phase in the short term. It is recommended that investors closely monitor the market rhythm and timely implement risk management."
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