Crypto 'Fear & Greed Index' at 74: Slight Improvement in Market Sentiment

IconCryptoNewsTerminal Staff11 Jun, 2024

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Crypto 'Fear & Greed Index' at 74: Slight Improvement in Market Sentiment

Alternative, a crypto data provider, estimated its 'Fear & Greed Index' to be at 74, which is a 2 point increase from the previous day. The market sentiment has slightly improved, but remains in the 'Greed' zone. The index is calculated based on volatility (25%), trading volume (25%), social media mentions (15%), surveys (15%), Bitcoin's market cap share (10%), and Google search trends (10%). Despite the slight improvement in sentiment, the market still shows signs of uncertainty. Bitcoin, the largest cryptocurrency, has been trading in a tight range for the past few weeks, and other major coins have followed suit. However, some analysts believe that the market is ripe for a breakout, and that the current consolidation period is simply a pause before the next leg up.

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