Since the peak crypto market rise in November 2021, the Crypto Fear & Greed Index has recovered to heights never before seen.
Coinbase (BTC)tickers lowering34,352 $ The Crypto Fear & Greed Index indicates that market mood has recovered to levels not seen
Since the price of the cryptocurrency reached $69,000 in mid-November 2021.
The index is currently in the "greed" category with a score of 72 out of 100, up six points from October 24 and up 16 points from its 50-point "neutral" position on October 18.
The enthusiasm surrounding BlackRock's spot Bitcoin exchange-traded fund (ETF)
And its potential clearance by the US Securities and Exchange Commission has led to an upswing in market sentiment.
On October 24, Bitcoin had the biggest one-day surge in more than a year, rising 14% a day and momentarily surpassing the $35,000 threshold.
To determine market sentiment each day, the index compiles and weighs information from six market key performance indicators: volatility (25%),
Market momentum and volume (25%), social media (15%), surveys (15%), Bitcoin's dominance (10%), and trends (10%).
According to CoinGecko data, the last time the index achieved a score of 72 was on November 14, 2021,
Which was only four days after Bitcoin hit its all-time high of $69,044 on November 10, 2021.
On June 16, 2022, following the demise of Do Kwon's Terra ecosystem, the index recorded its lowest-ever score of 7.
A series of price-dampening events were set off by the aftermath of the Terra crash,
And among the first fatalities were the cryptocurrency lender Voyager Digital and the hedge firm Three Arrows Capital.
The cryptocurrency investing firm Galaxy Digital has forecast that the price of Bitcoin may rise by more than 74% in the first year after a successful approval, riding the wave of excitement surrounding spot ETFs.
0 Comments