PANews reported on May 4th that, according to a new analysis report released on May 4th by BIT independent analyst Markus Thielen, the Bitcoin Greed & Fear Index remains relatively high, but has not yet shown signs of a "pullback." Typically, a decline in sentiment often signals the arrival of a short-term cyclical top.

The report points out that the index's 20-day moving average can effectively capture the natural fluctuations in the market between optimism and fear, and indicates that changes in market sentiment take time. The best investment opportunities usually appear when sentiment is extremely negative, rather than at high levels.

Currently, with this indicator continuing to rise, Bitcoin may still have room for further gains until market sentiment turns negative and becomes a resistance level. Analysts remind investors to pay attention to changes in sentiment indicators to determine market trends.