New to the cryptocurrency space and feeling lost? Watching the K-line fluctuate and feeling anxious but can't pinpoint the market sentiment indicator? Today, I will share 5 zero-cost, easy-to-use treasure tools that will help you quickly judge bullish or bearish trends and capture the movements of major players. Even beginners can instantly become 'sentiment detectives'!
1. On-chain data to view major players: Glassnode
Core functions:
1. Real-time monitoring of on-chain activity for mainstream coins like Bitcoin and Ethereum, whale address transfers, and inflow/outflow of funds on exchanges.
2. Classic indicators: MVRV (Market Value to Realized Value Ratio) determines whether the price is overvalued or undervalued; NUPL (Net Unrealized Profit/Loss) reflects the level of market greed/fear.
How to use:
For example: When a large number of whale addresses transfer tokens to exchanges and the NUPL index exceeds 0.7 (greed zone), it may signal a short-term peak!
Advantages: Data sources come directly from the blockchain, making it more 'real' than trading software, suitable for judging long-term trends.
2. Early knowledge of public opinion heat: LunarCrush
Core functions:
1. Aggregates cryptocurrency discussion heat from over 30 social platforms including Twitter, Telegram, and Reddit.
2. Generates data dimensions like 'social volume', 'interaction rate', 'influencer sentiment index', etc., using colors to indicate sentiment tendencies (green → optimistic, red → pessimistic).
How to use:
For example, if a certain altcoin is suddenly mentioned by multiple KOLs on Twitter, and social volume surges by 500% in 24 hours while the sentiment index turns positive, it could be a 'warm-up' before a pump by market makers!
Advantages: Essential for short-term trading! Captures market sentiment turning points in advance, more proactive than looking at K-lines.
3. Fear and Greed Index: Alternative.me
In summary:
A minimalist tool that directly tells you whether the market is currently in a state of fear or greed! Index ranges from 0 to 100, below 30 indicates fear, and above 70 indicates greed.
Data source:
Combines Bitcoin volatility, options trading volume, Google search trends, and 6 other indicators for weighted calculations, updated multiple times a day.
Practical tips:
When the index is below 25 for three consecutive days, and the Bitcoin price falls below the MA60 moving average, it is often a signal of a 'golden pit'.
Community sentiment magnifying glass: Crypto Fear & Greed Index
Difference from Alternative.me:
More focused on niche markets! In addition to overall market sentiment, it can also view individual sentiment indices for mainstream coins like ETH and BNB, and even track the popularity changes in DeFi and NFT sectors.
Hidden usage
During an NFT bear market, if you notice that the 'NFT Sentiment Index' suddenly rebounds from 20 to 40+, it may be a precursor to a niche project launching!
5. On-chain public opinion double kill tool Nansen
Essential for advanced players
Not only can it track on-chain fund flows, but it can also follow the movements of specific 'tagged addresses'.
For instance, if an address marked as 'Smart Money' continuously accumulates a specific token for 7 days, while the social sentiment for that token shifts from pessimistic to neutral, it deserves close attention!
