加密市場的情緒正在改善，加密富有恐懼和貪婪指數轉向“中性”（47）

這種轉變是因為比特幣在過去幾天中攀升了5.5％，恢復了8.8萬美元。發稿時，比特幣已達到87,647美元左右。

The crypto market sentiment has been improving, with the Crypto Fear & Greed Index moving to “neutral” (47) today, after spending the past week in “fear” territory.

加密市場的情緒一直在改善，加密貨幣恐懼和貪婪指數在過去一周在“恐懼”領土上度過了“中立”（47）。

This shift comes as Bitcoin (BTC) price climbed 5.5% in the past few days, to reclaim the $88K mark. At press time, Bitcoin has settled around $87,647. Experts link this to increased institutional investments and signals from the Federal Reserve (Fed) about future rate cuts.

這種轉變是因為比特幣（BTC）的價格在過去幾天中攀升了5.5％，以收回$ 88K。發稿時，比特幣已達到87,647美元左右。專家將其與美聯儲（FED）的機構投資和信號的增加聯繫起來，內容涉及未來的削減稅率。

However, market participants are actively debating whether this signals the beginning of a renewed bullish phase or simply represents a temporary pause in the market’s characteristic volatility.

但是，市場參與者正在積極辯論這表明這是重新看漲階段的開始還是僅僅代表了市場特徵波動中的暫時停頓。

What Factors Led to the Improved Market Sentiment?

哪些因素導致市場情緒改善？

The Fear & Greed Index returning to a neutral reading showcases a more balanced perspective within the crypto market. This shift follows a significant surge in institutional capital flowing into the sector.

恐懼和貪婪的指數恢復到中立的閱讀，展現了加密貨幣市場中更加平衡的觀點。這種轉變是在流入該行業的機構資本的巨大激增之後。

Reports from last week indicate that over $500 million has been invested in Bitcoin alone since the beginning of last week.

上週的報導表明，自上周初以來，僅對比特幣投資了超過5億美元。

Moreover, the QCP Capital Broadcast highlighted that this sentiment shift aligns with a broader easing of risk aversion in the crypto market. The firm suggested that the sharp reversal of net outflows from Bitcoin ETFs, with 8,775 BTC ($744 million) purchased last week, signaled early signs of liquidity rotating back into crypto.

此外，QCP Capital廣播強調，這種情緒轉變與加密市場中的風險規避更廣泛。該公司建議，來自比特幣ETF的淨流出的急劇逆轉，上週購買了8,775 BTC（7.44億美元），這表明流動性的早期跡象又回到了加密貨幣。

The rebound also coincided with a strong recovery in equity futures. However, despite this positive momentum, QCP Capital is maintaining a degree of caution.

反彈還與股票期貨的強勁復甦相吻合。然而，儘管有積極的勢頭，QCP資本仍保持一定程度的謹慎。

The firm's analysis of the options market showed that activity levels remain moderate, indicating a neutral “wait-and-see” stance from traders. Additionally, they observed a downward trend in implied volumes and risk reversals remained stable throughout the period.

該公司對期權市場的分析表明，活動水平保持中等水平，表明交易者的中立“等待”立場。此外，他們觀察到隱含體積的下降趨勢，在整個時期，風險逆轉仍然穩定。

How is the Federal Reserve’s Policy Impacting Crypto?

美聯儲的政策如何影響加密？

Last week’s Federal Open Market Committee (FOMC) meeting saw the Fed keep interest rates at 4.25% to 4.5%. The Fed also announced plans to begin scaling back its quantitative tightening program starting in April, a move that traders viewed as an indirect form of easing.

上週的聯邦公開市場委員會（FOMC）會議使美聯儲保持利率為4.25％至4.5％。美聯儲還宣布了計劃從4月開始開始擴大其定量收緊計劃的計劃，這一舉動被視為寬鬆的間接形式。

QCP Capital believes that Chair Jerome Powell’s remarks helped calm investor concerns about a potential recession. While outside forecasts had increased the probability of a downturn, Powell maintained that the risk remained moderate.

QCP Capital認為，主席杰羅姆·鮑威爾（Jerome Powell）的言論使投資者對潛在衰退的關注感到鎮定。儘管外部預測增加了經濟低迷的可能性，但鮑威爾堅持認為風險仍然適中。

The firm stated that the Fed’s economic outlook was revised downward, with growth projections reduced to 1.7% for 2023. Conversely, inflation expectations rose to 2.8%, sparking concerns about stagflation.

該公司表示，美聯儲的經濟前景已被修訂，增長預測降至2023年。相反，通貨膨脹預期上升到2.8％，引發了對停滯的擔憂。

What Are Analysts’ Takes on This Market Turnaround?

分析師對這個市場周轉的影響是什麼？

The shift of the Fear & Greed Index to Neutral has sparked mixed reactions, with some analysts seeing it as a potential buying opportunity.

恐懼和貪婪指數向中性的轉變引發了不同的反應，一些分析師認為這是潛在的購買機會。

However, others are cautioning that the market remains fragile and could easily swing back into fear.

但是，其他人警告說，市場仍然脆弱，很容易恢復到恐懼中。

Crypto trader and analyst Crypto Van described this range of 40 to 50 as “sneaky accumulation” territory. He explained that it’s the zone where we can expect to see more institutional investors accumulating Bitcoin in anticipation of a larger move.

加密交易員和分析師加密貨車將40至50的範圍描述為“偷偷摸摸的積累”領域。他解釋說，這是我們可以期望看到更多的機構投資者積累比特幣的區域。

Additionally, Altucard noted that traders are typically hesitant in this neutral zone. They are neither fearful enough to sell in panic or optimistic enough to buy with full conviction.

此外，Altucard指出，交易者通常在這個中立區猶豫。他們既不恐懼，以至於恐慌或樂觀態度就足以以完全的信念購買。

Furthermore, X user Guru drew a comparison, suggesting that the market is currently like a “coiled spring.” He opines that the direction of Bitcoin will likely determine the fate of altcoins in the coming days.

此外，X用戶大師進行了比較，這表明市場目前就像“捲曲的春天”。他認為，比特幣的方向可能會在未來幾天確定山寨幣的命運。