Crypto sentiment improves as Bitcoin trades above $90K
Crypto market sentiment has ticked higher as Bitcoin holds above $90,000, with conditions improving compared with earlier this month when the asset briefly traded above $100,000.
The Crypto Fear & Greed Index registered an “Extreme Fear” reading of 25 on Friday, up three points from the prior day and nearly 10 points above Nov. 13, the most recent session when Bitcoin (BTC) traded above $100,000 before slipping back below six figures.
Bitcoin was changing hands at $91,032 at the time of publication, according to CoinMarketCap, as market commentators assessed how quickly the token might reclaim the $100,000 level.
Recent volatility in crypto sentiment
Crypto analyst Ted said on X Thursday that if BTC retakes $93,000 or $94,000, $100,000 could arrive before any further downside.
Analytics firm Santiment reported Wednesday that the latest increase in bearish commentary across social platforms has historically preceded positive momentum for digital assets.
Bitcoin is down 18.94% over the past 30 days. Source: CoinMarketCap
“Most major turnarounds occur when retail’s hope is mainly lost,” Santiment said, noting that markets have often moved contrary to the crowd’s expectations.
Separately, BitMine chair Tom Lee on Thursday moderated his previously stated call for Bitcoin to reach $250,000 by year-end. He said he still expects BTC to reclaim $100,000 and “maybe” set a new record above its current peak of $125,100.
December outlook
Crypto trader Jelle said that after a series of gradual pullbacks, many participants were surprised by the latest sell-off.
Since 2013, December has delivered an average return of 4.75% for Bitcoin, according to CoinGlass. With October and November—historically among Bitcoin’s stronger months—underperforming this year, some market participants are questioning whether December will also diverge from seasonal trends.
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