Bitcoin’s fear gauge plunged back into “Extreme Fear” on Wednesday — the same day traders flooded social media with bullish calls following the US Federal Reserve’s decision to hold interest rates steady.

Sentiment Shoots Up Despite Grim Market Signals

The Crypto Fear & Greed Index, a widely tracked measure of overall market mood, had briefly climbed into plain “Fear” territory the day before, only to reverse course hours later.

Yet traders appeared unfazed. According to sentiment platform Santiment, bullish chatter on social media spiked hard after the Fed announced it would keep rates unchanged at 3.5–3.75%.

The platform’s social media discussion score shot from roughly nine to 71 within hours of the announcement.

Bitcoin…