According to the Crypto Fear and Greed Index (which has been created), sentiments can rapidly change in cryptocurrency markets. Alarms have increased from extreme fearToday is neutral, as of Sept. 30, This sentiment might improve if (BTC) breaks out and sustains above the psychologically critical level at $50,000.

One important event that may boost short-term sentiment is the U.S. Securities and Exchange Commission’s (SEC) decision on Bitcoin exchange-traded fund (ETF) applications. Although the SEC extended the deadline of four Bitcoin ETF applications by 45 days on Oct. 1, Bloomberg’s senior ETF analyst Eric Balchunas is hopeful that a futures-backed Bitcoin ETF might receive the green signBy the middle of October