Bitcoin Climbs 5% Off Four-Month Low as Fear Gauge Hits 10
Bitcoin is still down about 14% on the week near $65,500. Ether bounced 6.6% from $1,711, its weakest level since July 8.
Bitcoin climbed about 5.4% from its Saturday-night low to near $65,500 at 5:52 a.m. ET Sunday, CoinGecko data show. The bounce came as a widely watched sentiment gauge sat at 10 out of 100.
The low came at about 8:45 p.m. ET Saturday, near $62,120 on CoinGecko's five-minute data. The Straits Times, carrying Reuters and Bloomberg reporting, put the bottom at $62,112, bitcoin's weakest since July 14. Even after the rebound, bitcoin is down 13.9% over seven days and 2.6% over 24 hours.
Ether's low reached back to July
Ether fell as far as $1,711, its lowest since July 8, according to the same report. CoinGecko had it near $1,828 at 5:52 a.m., up 6.6% from its low but down 18.6% on the week. Solana traded near $71.89, down 19.6% over seven days.
What the fear gauge measures
The Crypto Fear & Greed Index from Alternative.me scores bitcoin sentiment from 0, "Extreme Fear," to 100, "Extreme Greed." It mixes price swings and drawdowns (25%), trading volume and momentum (25%), social media activity (15%), bitcoin's share of the crypto market (10%) and search trends (10%). Its survey piece is paused. Sunday's reading of 10 was the lowest since June 9, when it hit 9. A week earlier it stood at 29.
Money has been leaving the funds
U.S. spot bitcoin ETFs saw almost $3 billion of net outflows from Oct. 30 through Nov. 13, The Straits Times reported. Farside Investors data show $185.4 million left on Friday alone. Bitcoin has fallen about 25% since Oct. 21.
Richard Galvin, executive chairman at crypto investment firm DACM, said Anthropic's upcoming initial public offering may be drawing money away from crypto. "It appears crypto remains a short-term funding source, particularly for retail investors," he said in the report.
In our opinion: the number that matters this week is the ETF tally on Monday, the first trading day after the bounce. Five percent back is a modest recovery inside a 25% slide since late October. The gauge last read this low in early June, and its next update lands around 7 p.m. ET Sunday.
Sources: CoinGecko: Bitcoin (price, 24-hour and 7-day change, intraday low) · CoinGecko: Ethereum · CoinGecko: Solana · The Straits Times (Reuters, Bloomberg): Binance targets full reopening of withdr · Alternative.me: Crypto Fear & Greed Index (method and history) · Alternative.me Fear & Greed API (daily history) · Farside Investors: Bitcoin ETF flows
Revisions
First published .
No revisions since publication.
We fix errors and say so. See every correction on the Blackmint corrections page.