Highest Crypto Greed Index Since $69K Bitcoin ATH
The Crypto Fear and Greed Index, a popular tool for monitoring market sentiment in the cryptocurrency industry, has reached levels not seen since Bitcoin hit its all-time high. According to Alternative.me, the index surged to a high of 79 on February 13, marking its highest level since mid-November 2021 when Bitcoin reached $69,000. This spike in greed followed Bitcoin’s climb above $50,000 on February 12. The cryptocurrency has been experiencing a strong rally in recent months, with a 13% increase in value year-to-date.
Reaching a score of 79 for the first time in over two years has pushed the Crypto Fear and Greed Index into the “extreme greed” zone, which occurs when the index surpasses 74. The index previously reached extreme greed at 76 on January 11, coinciding with the excitement surrounding the launch of Bitcoin exchange-traded funds (ETFs) in the United States. The current Bitcoin rally and the new surge of greed come a month after the launch of the spot Bitcoin ETF, suggesting that any short-term selling related to the ETF approval news has subsided.
In late 2023, Cathie Wood, the CEO of ARK Invest, predicted that some investors would “sell the news” of spot Bitcoin ETF approval in the short term. Wood believes this will be a temporary reaction as she expects the SEC to greenlight the spot Bitcoin ETF for institutional investors. The Crypto Fear and Greed Index is calculated using various signals that influence trader and investor behavior, including Google Trends, surveys, market momentum, market dominance, social media, and market volatility. The index takes into account factors such as market volatility (25%), market momentum (25%), and social media trends (15%), among others.
While the Crypto Fear and Greed Index offers insights into the state of the crypto market, it is important for individual traders and investors to conduct their research and select tools that align with their investment objectives.
4 thoughts on “Highest Crypto Greed Index Since $69K Bitcoin ATH”
Leave a Reply
You must be logged in to post a comment.
It’s infuriating to see so many people getting caught up in the hype and greed of the cryptocurrency market. It’s unsustainable and bound to crash eventually.
It’s amazing how people can be so easily swayed by these arbitrary indicators. The Crypto Fear and Greed Index is just another tool used to manipulate investor sentiment. Don’t fall for it.
Investing in cryptocurrencies can be exciting, but it’s essential to approach it with caution and consider risk management strategies.
The recent rally in Bitcoin and the surge in the Crypto Fear and Greed Index reflect the growing confidence in the cryptocurrency market.