Bitcoin recent push above $90,000 breathed new life into the crypto market, with sentiment hitting its highest level in over two months on April 23. The widely-watched Crypto Fear & Greed Index jumped to a score of 72, signaling “Greed” as bullish momentum returned. But just days later, that optimism appears to be fading. By April 25, despite Bitcoin maintaining a price range between $91,800 and $94,300, the index slid to 60 — still in “Greed” territory but cooling. Greed Returns to the Market — Briefly It marked the first time since early February that sentiment climbed so high. Back then, macroeconomic uncertainties and tariff tensions had sent Bitcoin tumbling below the $100,000 mark. Since reclaiming $90K, market participants seem torn between excitement and unease. Adding to the caution, Markus Thielen of 10x Research cited slow stablecoin activity as a red flag. “Our stablecoin minting indicator hasn’t shown signs of a breakout,” he warned, suggesting that liquidity inflows might not support a sustained rally. The divergence in outlook is becoming clearer. Bitfinex analysts, in a note published April 24, acknowledged Bitcoin’s relative strength versus U.S. equities, but hesitated to call it a lasting trend. They stopped short of labeling it a full structural decoupling. Analysts Split on Whether the Bitcoin Rally Can Last On the other hand, bullish voices remain. Michaël van de Poppe, founder of MN Trading Capital, sees buyers lining up. “We’re likely on our way to fresh all-time highs,” he said on X, predicting upward continuation if the $90K level holds. Meanwhile, spot Bitcoin ETFs in the U.S. have seen a major influx of capital. Between April 20 and 24, net inflows totaled $2.6 billion — the third-best week since these products launched in January. This institutional activity could prove to be a stabilizing force, even as retail sentiment wavers. Altcoins, however, continue to lag behind. CoinMarketCap’s altcoin season index is just 17 out of 100, and Bitcoin’s dominance hovers near 64.4%, according to TradingView — a strong signal that attention remains heavily concentrated on the top asset. The post Bitcoin $90K Rally Sparks Greed, but Analysts Urge Caution appeared first on TheCoinrise.com .
