Matrixport: Greed and Fear Index indicates that Bitcoin may enter a consolidation period

Odaily Planet Daily Report: Matrixport released a chart today, stating that years ago, we launched our self-developed Greed and Fear Index model, aiming to provide faster-reacting and more widely used Fear and Greed Index information. So far this year, the index has marked five key entry points when the score was below 10% (on a 0-100% scale), indicating that the market has entered a state of panic. However, the index has recently clearly entered the "Greed" range (above 90%), which is usually seen as a signal to take profits. It is worth noting that after the phased high point in March, Bitcoin has experienced a 7-month consolidation period. During this time, the index has repeatedly shown "panic" signals, but due to the lack of rebound momentum, it has never entered the "Greed" range. The recent breakthrough of the index above 90% suggests that Bitcoin may experience a period of consolidation before resuming its upward trend.