Bitcoin just pulled off its fastest sentiment recovery in years, and the market is still trying to figure out what happened.

The Fear and Greed Index rocketed from an "Extreme Fear" reading of 18 to a "Neutral" 45 in just four days, leaving both bears and bulls equally confused.

That's like going from "we're all gonna die" to "we’re going to the moon" over the course of a long weekend.

The Fear Meter Moves

For those who don't live on trading view, the Fear and Greed Index basically tells us whether the market is irrationally scared or stupidly greedy.

Below 25 means everyone's panic selling their bags like it's March 2020 all over again.

At 45, we're in that weird middle ground where nobody knows what to do – kind of like when there’s an excellent airdrop farming opportunity, but the docs are super unclear on how to actually make the most of it.

This jump means sentiment is recovering faster than Bitcoin's hashrate after the last China ban.

What Changed?

The U.S. just eased up on those trade war tariffs that had the markets more stressed than a validator during network congestion.

China's still getting smacked with 125% tariffs, but other countries dropped to 10% – still enough to hurt but not enough to cause panic.

Meanwhile, the big boys have been buying the dip harder than Michael Saylor, whose also eyeing the recent downturn with excitement.

Whales and corps keep stacking sats while retail was busy doom-scrolling Twitter and selling the bottom.

The Powell Put

The Fed is back to its dovish ways, with at least one 0.25% rate cut looking more likely than even just a few weeks ago.

This has traders more bullish than ever before – everyone's betting on fresh liquidity hitting the markets, meaning fresh money to ape into Bitcoin.

Derivatives data is showing more open interest as well, with traders positioning for the next leg up.

All this while Bitcoin dominance sits at a comfy 62%, meaning if BTC pumps, everything else eventually follows.

The Crystal Ball

The hopium dealers are throwing around $95K predictions for late April and the sacred $100K by mid-May.

Some technical analysts are drawing so many lines on charts they're starting to look like abstract art… which maybe suggests NFTs could be coming back as well?

But that $85K resistance level is still a tough line in the sand, though, so we’ll be keeping an eye on that level until it’s firmly in the rearview.

We're not out of the woods until we break it with the kind of volume that makes exchange servers crash, flipping it firmly into support.

Anon's Advice

The market can flip sentiment fast, especially given the recent macro volatility, so don't ape in with your life savings just yet.

Just remember – the same people predicting $100K today were calling for $30K last week.

Whether you're a degen looking for the next pump or a hodler who sleeps through the volatility, one thing's for sure – crypto never gets boring.

As always, someone out there who panic-sold at $66K is likely licking their wounds.