Crypto Fear And Greed Index Points At Extreme Greed
As per the latest weekly report from , the fear and greed index has recorded seven-month highs as the needle points at extreme greed.The “fear and greed index” is an indicator that represents the general sentiment of the crypto market on a numeric scale that goes from 0 to 100.
The fear and greed index seems to be pointing at extreme greed at the moment | Source:As the above meter shows, the crypto market looks to be extremely greedy right now as the value of the indicator stands at 76.
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The values of the indicator over the last one year | Source:On examining the above graph, it becomes apparent that the fear and greed index reached values of 84 this week, the highest in the last seven months.
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This peak was made just a day after Bitcoin made its new ATH of around $67k, but shortly following that the price had a correction. The below chart shows this trend in BTC’s price:
BTC's price continues to go down after making a new ATH | Source:
The fear and greed index also took a hit in response to this decline in Bitcoin’s price, but nonetheless, values still remain in the extreme greed category, which means the crypto market still expects prices to go higher.
During the rally earlier in the year, values consistently remained in the extreme greed category, and corrections only caused temporary declines in the indicator. This means that if the market has to continue making newer ATHs, the market sentiment should remain greedy, otherwise the bull run might start losing steamFeatured image from iStock.com, charts from TradingView.com, Arcane Research