Bitcoin (BTC) showed signs of strength into the Wall Street open on Nov. 29 equally macro markets shed some of final week'due south fright.

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView

Crypto edges out of "extreme fearfulness"

Data from Cointelegraph Markets Pro and TradingView confirmed BTC/USD property $57,000 as trading began November. 29.

Despite a weak first in Asia, U.S. markets were in the mood for making amends after Nov. 26'due south rout, the Southward&P 500 making up some of its 2.3% losses.

Bitcoin joined the improved mood, overnight functioning at ane point topping seven% to run across local highs of $58,300.

Sentiment reflected the changes, with the Crypto Fright & Greed Index rising from 21/100 to 33/100 — "extreme fear" to "fright" — after striking its lowest since September.

Crypto Fearfulness & Greed Index. Source: Alternative.me

"The market is bouncing," Cointelegraph contributor Michaël van de Poppe summarized.

"Hopefully, the by weekend has shown you that you should be relaxed, when it comes to the markets. Lots of fearfulness during the weekend, swiftly fading away already. Never sell after huge ruddy candles, that'due south pure emotion-based. At-home down."

BTC cost activity even so remained pinned in a descending channel on daily timeframes, this bordered by the significant $60,000 zone, which previously flipped from back up to resistance.

On the possibility of a fresh dip taking reward of renewed optimism amid market participants, analytics resource Material Scientist meanwhile had words of caution.

"A lot of BTC bid liquidity has been taken," information technology told Twitter followers alongside an updated orderbook map.

"Won't be surprised if the stop hunters go after tardily longers and weak hands. Plan appropriately."
BTC/USD heatmap segment as of Nov. 29. Source: Material Scientist/ Twitter

MicroStrategy "buys the dip" to the melody of $400 one thousand thousand

Amid stronger "hodlers," however, conviction in Bitcoin profitability showed no signs of being shaken.

Related: Where will BTC terminate November 2022? 5 things to watch in Bitcoin this calendar week

On Nov. 26, it emerged that last calendar week'southward "purchase the dip" opportunity was taken non only by the likes of El Salvador but also serial corporate investor MicroStrategy.

A filing confirmed that the company had added over 7,000 BTC to its treasury at an average price of just in a higher place $59,000, taking its combined holdings to 121,044 BTC ($6.93 billion).