Data shows the Bitcoin market sentiment has broken into the extreme greed territory following the cryptocurrency’s new high above $111,000.
Bitcoin Fear & Greed Index Has Shot Up Recently
The “Fear & Greed Index” refers to an indicator created by Alternative that tells us about the sentiment held by the average trader in the Bitcoin and wider cryptocurrency markets. The metric uses a numerical scale running from 0-100 in order to represent the sentiment. All values above 53 represent greed among the investors, while those below 47 indicate fear. The index lying between these two cutoffs implies a net neutral mentality.
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Besides these three main zones, there are also two ‘extreme’ regions called the extreme greed (above 75) and extreme fear (below 25). At present, the
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