Crypto Market Still Greets Positive Sentiment as 'Fear & Greed Index' lingers at 72

IconCryptoNewsTerminal Staff29 May, 2024

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Crypto Market Still Greets Positive Sentiment as 'Fear & Greed Index' lingers at 72

Crypto data aggregator Alternative's self-proclaimed "Fear & Greed Index" remained at 72 on Tuesday, indicating a persistent state of greed within the market. The index, which is calibrated to track market sentiment, hovers at its maximum (100) when the market is overwhelmingly bullish and at its minimum (0) when it is extremely bearish. The index constructs its daily value using six metrics: volatility (25%), trading volume (25%), social media mentions (15%), surveys (15%), Bitcoin market cap dominance (10%), and Google search volume (10%). This sustained "greed" could signal a bullish outlook for cryptocurrency prices in the near term, as the market remains optimistic. However, traders and investors are advised to maintain a cautious approach, as market sentiment can shift rapidly, and past performance does not guarantee future results.

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