According to TechFlow, on July 20, BIT stated that despite heavy market short positions and continued sluggish trading volume, its proprietary "Greed and Fear Index" continues to improve, further reinforcing its more positive trend judgment for Bitcoin proposed in the latest weekly report. Historically, when the 21-day moving average of the index turns upward, Bitcoin often rises accordingly, corresponding to multiple major tactical bottoms.
BIT believes that the resilience demonstrated in the $60,000 to $65,000 support range, coupled with improved market sentiment, indicates that Bitcoin still has the potential to further extend its rebound.
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