Bitcoin Greed & Fear Index Shows Extreme Pessimism, Tactical Bottom May Be Near: Analyst
Updated Nov 22, 2025, 3:58 a.m. Published Nov 22, 2025, 3:57 a.m.
Bitcoin BTC$84,690.43 sentiment has plunged into extreme pessimism, suggesting a tactical or interim low from which a BTC price bounce is likely, according to analytics firm 10x Research.
The firm’s proprietary “Greed & Fear” Index, which measures market sentiment, has crashed to a record low of less than 5 points. Readings below 10% represent extreme fear or pessimism, and above 90% signal green or over-optimism.
More importantly, the 21-day simple moving average of the index has slipped to 10%, a level that has consistently marked tactical lows over the years.
“Our own 10x Greed & Fear Index has been sitting near its lowest possible reading, and the slower-moving average has now reached the 10% zone, a level that often marks a tactical low,” Markus Thielen, founder of 10x Research, told CoinDesk.
Peak pessimism does not necessarily signal an immediate end to the downtrend. While prices may continue to decline, the pace is likely to slow, with a tactical low in sight.
“Prices can still fall further, as we saw in March when the indicator bottomed before bitcoin continued to slide into April. Yet, bitcoin still staged a 10% rebound immediately after that initial sentiment low. With sentiment now near rock bottom again, a similar short-term rebound is possible,” Thielen explained.
Bitcoin traded near $84,800 at press time, having hit a low of $80,880 on Friday, according to data from CoinDesk. Despite the bounce, prices are still down 10% for the week and 23% for the month.
AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.
More For You
Protocol Research: GoPlus Security
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence’s Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Coinbase ‘Negative Premium’ at Widest Level since Q1, Signalling Weak U.S. Demand
Bitcoin is on track for its worst weekly performance since March, while U.S. demand indicators weaken as the Coinbase premium declines and spot ETFs reach a record volume.
What to know:
- Coinbase’s bitcoin Premium Index hit a -0.15% divergence, its widest discount to global markets since Q1, signalling persistent U.S. institutional caution.
- Spot bitcoin ETFs saw $238.4 million of inflows and a record $11.5 billion in trading volume on Friday, hinting at potential capitulation after a 36% market correction.
- Bitcoin is heading for its worst week since March with an 11% slide.
