Crypto 'Fear & Greed Index' at 70... Greed continues

30 January, 2025, 12:29 AM

The cryptocurrency market sentiment remains in the greed zone, according to the 'Fear & Greed Index' by Alternative. The index, which measures market sentiment based on volatility, trading volume, SNS mentions, surveys, Bitcoin market capitalization ratio, and Google search volume, recorded 70 out of 100 on August 2nd, down 2 points from the previous day. Despite the slight decrease, the index still indicates extreme optimism in the market. A reading close to 0 indicates extreme fear, while a reading close to 100 indicates extreme optimism. The Fear & Greed Index has been in the greed zone for several weeks now, indicating that investors are feeling increasingly confident about the future of the cryptocurrency market. This confidence is likely due to a number of factors, including the recent surge in the price of Bitcoin and other major cryptocurrencies, as well as the increasing adoption of cryptocurrencies by businesses and institutions. However, it is important to note that the Fear & Greed Index is just one indicator of market sentiment. Investors should also consider other factors, such as technical analysis and fundamental analysis, when making investment decisions.