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Bitcoin investors ‘no longer fearful’ — watch this BTC price level next

Sentiment breaks out from "extreme fear" along with Bitcoin price action as expectations call for only a modest correction before fresh gains.

Bitcoin (BTC) stayed higher on Oct. 2 after a “fantastic” break to the upside upended market sentiment.

Bitcoin investors 'no longer fearful' — watch this BTC price level next1BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView

Trader eyes $45,000 BTC price floor 

Data from Cointelegraph Markets Pro and TradingView followed eerie calm on BTC/USD after Friday’s sudden upside volatility saw $3,000 added in an hour.

The classic “short squeeze” saw no significant pushback into the weekend, with Bitcoin preserving levels above the August close.

For Cointelegraph contributor Michaël van de Poppe, it was now a question of what form a consolidation period could take in the coming days.

“If we want to get any corrective move at all, I think you don’t want to see it go that far down,” he warned in a YouTube update Friday.

Read more:  $22B hedge fund Point72 reportedly searching for a 'head of crypto'

Referencing sentiment gauge the Crypto Fear & Greed Index, he noted that overall, fear had once more left the market thanks to Friday’s price action.

“Following BTC’s fantastic breakout move yesterday… Investors are no longer fearful towards Bitcoin,” he summarized.

“Extreme Fear precedes financial opportunity.”

Fear & Greed was languishing in its “extreme fear” zone as recently as Thursday, its score since increasing from 20/100 to current levels of 54/100, described as “neutral” for sentiment.

Bitcoin investors 'no longer fearful' — watch this BTC price level next2Crypto Fear & Greed Index as of Oct. 2. Source: Alternative.me

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