Crypto and Bitcoin news with the BGR sentiment rating
Read it backwards. The rating is what is being said and what is being held, never what price did. Greed is where longs are crowded and fear where shorts are: shorts still opening into a rise read as fear, however far price has run, and the run has room until the long side is crowded and its liquidations sit underneath. It is not measured against price and carries no weight in the Terminal.
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What the numbers are
- Rating
- A weighted mean of five readings on one 0–100 scale, renormalised over whichever can be read. News (40%): every headline of the window, weighted by age with a half-life of a quarter of the window; the bullish-less-bearish share, damped by how much of the talk leans at all. Long / short split (20%): the venues' long-position share, open-interest-weighted, against the average of everything our capture has recorded — the baseline grows with the record. The reading is the larger of the z-score and the raw distance from that average, so a 75/25 book reads past 96 and a 90/10 past 99.7 whatever the record's spread; those splits do not happen on Bitcoin, and when one does the needle says so. Flow (20%): which side opened the open interest added over the window, from the aggregate's side attribution, against every window of the same length in the month — shorts opening into a rise read as fear. Funding (10%): the OI-weighted rate against the 0.01%/8h flat. Liquidations (10%): projected long liquidations standing under price against short liquidations above, within ten percent, weighted by closeness. Price direction is not an input. Bands: panicked, fearful, worried, uncertain, neutral (40–60), optimistic, greedy, euphoric, delusional.
- Fear & greed
- alternative.me's published index, shown beside ours for comparison. It is not folded into the rating.
- Crowding
- Zero to ten. How one-sided the window's coverage is, from a keyword lean per headline. A crowded story is a crowded position.
- Lean
- Each headline is marked bullish, bearish or neutral by its words. That is a crude read and it is labelled as one; the counts are shown so you can weigh them yourself.
- Measured
- Neither number has been tested against price. Neither carries weight in the Terminal.
Read it backwards. The BGR sentiment rating is built from what is being said and what is being held — headlines from twenty free sources, the long-against-short split, who is opening, funding, and where the forced exits sit. Price direction is never an input. Greed is where longs are crowded and fear where shorts are, so shorts still opening into a rise read as fear however far price has run.
Every headline is scored and shown with its source, so the number can be taken apart rather than trusted. The crowding score is the part worth arguing with: it says how one-sided the coverage is, not whether the coverage is right.
It is not measured against price and it carries no weight in the Terminal. No forward test relating a sentiment reading to a subsequent move exists yet, so the inverse rule this is read by is a belief, not a measurement. The positioning behind it is on the orderflow page and the levels are on the heatmaps.