Crypto 'Fear & Greed Index' at 57 Signals Conversion to Greed

IconCryptoNewsTerminal Staff01 Aug, 2024

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Crypto 'Fear & Greed Index' at 57 Signals Conversion to Greed

The cryptocurrency market has started to transition from a neutral phase to a greed phase, according to Alternative's 'Fear & Greed Index'. The index rose by 5 points from the previous day to 57, indicating a shift in investor sentiment. The Fear & Greed Index is a measure of market sentiment towards cryptocurrencies. It is calculated based on six factors: volatility (25%), trading volume (25%), SNS mentions (15%), surveys (15%), Bitcoin market cap weight (10%), and Google search volume (10%). A reading of 0 indicates extreme fear, while a reading of 100 indicates extreme greed. The index has been trending upwards in recent weeks, indicating that investors are becoming more confident in the cryptocurrency market.

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