ChainCatcher message, Matrixport released a chart report indicating that yesterday, we noticed that the Bitcoin Greed and Fear Index hit a low.In the past 24 hours, Bitcoin rebounded by 5%, once again validating the effectiveness of this indicator. At the same time, Bitcoin rebounded at the lower boundary of the downward channel, as traders expected.The current market is mainly driven by technical momentum, reacting to these signals until new fundamentals emerge.

ChainCatcher news, Matrixport released a chart today stating that two weeks ago, the greed and fear index of Matrixport dropped to possibly the lowest level. Today, the 21-day moving average shows an upward trend, which historically usually indicates a key low for Bitcoin. Whether this rebound is sustainable remains to be seen, as there are still multiple risk factors that could affect Bitcoin's price.However, the reversal of this indicator suggests that Bitcoin may be entering a more positive period after its recent decline.

ChainCatcher message, Matrixport report indicates that the MP Bitcoin Greed and Fear Index (gray line) may have reached its lowest level. As long as Bitcoin is in a bull market, this indicator tends to rebound from this level.Although the moving average of this indicator (black line) is still declining, we also hope to see the moving average turn upward before making a purchase.