Crypto 'Fear & Greed Index' Remains in Greed Zone at 70

IconCryptoNewsTerminal Staff21 Jul, 2024

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Crypto 'Fear & Greed Index' Remains in Greed Zone at 70

The "Fear & Greed Index," a gauge of market sentiment towards cryptocurrencies, stands at 70, indicating sustained "Greed" among investors. Alternative.me, the data provider behind the index, calculates it using six factors: volatility, trading volume, social media mentions, surveys, Bitcoin's market dominance, and Google search volume. A value closer to zero signifies extreme fear, while 100 indicates extreme optimism. The current reading of 70 suggests ongoing bullish sentiment, despite a slight dip from 74 yesterday. The market has exhibited a consistent upward trend in recent months, buoyed by factors such as increased institutional adoption and positive regulatory developments. However, analysts caution that the high greed levels may lead to excessive risk-taking and potential market corrections in the future. They advise investors to exercise prudence and manage their portfolio accordingly.

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