In general, there is optimism for bitcoin in this last quarter of the year.
The US election results could catapult bitcoin to new heights.
The bitcoin (BTC) and cryptocurrency market remains neutral for the fifth consecutive day. This is according to the fear and greed index polled by the Alternative explorer.
In this way, the market shows that it has left behind the fear that prevailed last week. Such a state had occurred with the escalation of war between Israel and Iran, which caused demand in global financial markets to decline.
With the change to neutrality, which put an end to the state of fear, market sentiment shows recovery. However, it should be noted that it is not yet as it was before the recent geopolitical tensions. By then, a scenario of greed remained.
This means that currently The market has neither bearish nor bullish sentiment. Consequently, the price of bitcoin could experience low volatility until the development of the environment defines the direction.
The movement of sentiment can be seen in the chart below. Under a scale that goes from 0 to 100, this distinguishes a state of neutrality when the result is between 45 and 55. On the other hand, a level greater than this range demonstrates greed and a lower level of fear.

The result of this index is calculated based on data on price volatility, trading volume and momentum, social networks, trends on Google and dominance of the capitalization of bitcoin with respect to cryptocurrencies.
In tune, the fear and greed index surveyed by the CoinMarketCap explorer indicates that market sentiment went from fearful to neutral. However, unlike the one reported by Alternative, this one indicates that the last time he experienced greed was more than a month ago.
In the following graph, you can see this index, which bases its result on data on cryptoasset prices, transactions and user behavior. Unlike Alternative, this establishes a neutral state between values from 40 to 60.

Neutral bitcoin market sentiment could be temporary
October has historically been the month in which bitcoin ended up the most times. This is partly due to the fact that summer in the northern hemisphere begins days before, a season in which economic activities intensify due to the end of vacations and markets tend to rise. If this pattern repeats itself, the return of greed in the market is possible.
With the seasonal situation, added to the beginning of the cycle of interest cuts in the United States, optimistic expectations are emerging for the remainder of the year. Furthermore, the political campaign for the presidential elections in November in the economic powerhouse strengthens this scenario, given the bipartisan support for the bitcoin ecosystem.
It is also expected that a decrease in inflation in the United States will be announced tomorrow. If this forecast comes true, the financial markets could react upwards, given that it represents greater liquidity. Trader sentiment could therefore improve unless new headwinds arise.
Meanwhile, as CriptoNoticias anticipated, bitcoin remains trading around 62,000 dollars (USD) so far this week. This shows a recovery from the USD 60,000 it touched last week due to geopolitical tensions.