Investing.com — The bull market “still has room to run,” according to a new proprietary indicator from Needham & Company.
The investment firm said Monday that its Crypto Euphoria Needham Diagram (CEND) suggests that despite Bitcoin’s recent rally to record highs, the market is not yet in the extreme euphoria phase that typically precedes a peak.
The CEND index is designed to track where the crypto market stands within its cycle, combining seven metrics that gauge levels of retail enthusiasm, institutional sentiment, and market dynamics. By assigning scores to these inputs, the tool quantifies overall market sentiment, offering a structured approach to identifying periods of excessive optimism or disinterest.
“The higher the score, the more euphoric the crypto markets and hence the more likely the market is to a peak,” Needham explains.
Recently, the CEND hit its highest score of 2024 at 55, surpassing levels from earlier in the year during…
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