CZ Says Buy When Fear Is High as Crypto Leaves Extreme Fear

Highlights:

• Binance CEO CZ advises buying when fear is high and selling when greed grows.
• Bitcoin stays above $90K, but traders remain careful as sentiment improves.
• Fear & Greed Index climbs to 28, ending 18 days of Extreme Fear.

Binance founder Changpeng Zhao (CZ) recently spoke about the market on X. He suggested it may be better to sell when greed is high and buy when fear is high. His comment came after the crypto market stayed in Extreme Fear for 18 days, one of the longest periods this year.

Unpopular opinion, but it's better to sell when there is maximum greed, and buy when there is maximum fear.

— CZ BNB (@cz_binance) November 29, 2025

Traders seemed to respond quickly. One user said the idea is popular but rarely followed because emotions often control decisions. Another said that markets react to feelings before charts show changes. These reactions show that acting wisely can be hard, even when the plan is clear.

Crypto Sentiment Shifts as Fear Index Rises to 28

On Nov. 15, analyst Matthew Hyland said the index reached the cycle’s deepest fear. He called BTC Dominance at that level “max pain.” A few days later, on Nov. 23, Crypto Seth said, “Extreme Fear is not enough.” Trader Nicola Duke said extreme fear often marks a local bottom for Bitcoin.

In the past 5 years every time crypto has dipped into extreme fear it has marked a local bottom within couple of weeks
we are at the April low in sentiment terms pic.twitter.com/4xj6hnjCjG

— Nicola Duke (@NicTrades) November 18, 2025

On Saturday, the Crypto Fear & Greed Index rose to 28, leaving Extreme Fear for the first time since Nov. 10. Santiment said Bitcoin looked mostly bullish near $92,000, based on social media signals.

Despite this, cautious behavior is still visible. CoinMarketCap’s Altcoin Season Index reads 22 out of 100, showing that traders remain focused on Bitcoin rather than altcoins. The long stretch near the most bearish readings has caught attention. November is usually one of Bitcoin’s strongest months, making the current extreme pessimism striking to traders and analysts following market cycles.

As market sentiment slowly improves, CZ reminds traders to follow buy-fear, sell-greed rules. On Friday, André Dragosch of Bitwise Europe said Bitcoin’s price is off due to recession concerns. He added that the current risk-reward looks very uneven, similar to the COVID period.

This is probably the most important work I’ve done on #Bitcoin & Macro so far.

It involves a lot of computation and is somewhat complex – because financial markets are complex at the end of the day.

The question investors constantly face is:

“𝗪𝗵𝗮𝘁 𝗶𝘀 𝗽𝗿𝗶𝗰𝗲𝗱 𝗶𝗻… pic.twitter.com/TUaFGM5SAT

— André Dragosch, PhD (@Andre_Dragosch) November 28, 2025

Bitcoin Metrics Show a Reset, Not a Breakdown

CryptoQuant analysts said that Bitcoin’s Net Realized Profit and Loss (NRPL) is moving back toward the zero line after big spikes. This pattern usually signals the end of forced selling and the start of a stable, neutral phase. Prices near $90,000 reflect the same balance, where buyers and sellers are even.

Analysts call this the market’s equilibrium zone, a calm period where investors decide their next move. If NRPL stays above zero, it suggests the market is building a stronger recovery base. A drop below zero would indicate weakness.

Despite the recent drop, BitMEX co-founder and former CEO Arthur Hayes said he still believes Bitcoin could reach $250,000 by year-end. Speaking on the Milk Road Show on Wednesday, he expressed full confidence and said he will not change his target. “I’m going to stick with it,” he added, saying Bitcoin will either reach that price or it won’t.

BitMEX co-founder Arthur Hayes reaffirmed his year-end $250,000 Bitcoin target, saying on this week's "Milk Road Show" that last week’s dip to $80,600 marked the cycle bottom and the subsequent rebound supports that view. He added that much of the inflow into BlackRock's IBIT was…

— Wu Blockchain (@WuBlockchain) November 29, 2025