Crypto ‘Fear & Greed Index’ Maintains Elevated Greed Level at 73
CryptoNewsTerminal Staff31 May, 2024
Crypto ‘Fear & Greed Index’ Maintains Elevated Greed Level at 73
The widely-followed “Fear & Greed Index” for the cryptocurrency market has remained firmly in the “Greed” zone, registering 73 on Tuesday, the same level as the previous day. The index, developed by cryptocurrency data provider Alternative, measures market sentiment based on a composite of six factors: volatility, trading volume, social media mentions, surveys, Bitcoin dominance, and Google search volume. A reading close to 0 indicates extreme fear, while a reading near 100 suggests extreme greed. The index's sustained presence in the “Greed” zone suggests that market participants remain optimistic about the future of cryptocurrencies, despite recent market fluctuations. However, it is important to note that the index is a sentiment gauge and should not be solely relied upon for investment decisions.
