Crypto Fear and Greed Index Soared to its Highest point in almost 4 months

In the previous six months, the Crypto Fear and Greed Index, a complicated market sentiment indicator tracked by the Alternative.me portal, has seen the most dramatic rise.

Overnight on March 28, the crypto Fear and Greed index rose 11 points. It is presently estimated to be 60/100, implying that traders are becoming greedy.

As a result, the index soared to its highest point in almost four months. In fact, when Bitcoin (BTC) was above $69,000 and the crypto market value was over $3 trillion, it was at an all-time high.

This rally appears to be extremely quick: the index doubled in less than a week and tripled in less than a month.

The surge is the biggest significant since September-October 2021 when the indicator jumped from 20 to 71 in a single week.

At the present, the traders’ “greed” is reflected in Bitcoin’s price increase. At the time of publishing, Bitcoin is trading around $47,755 and maybe its price still continues to rise. This is the highest price BTC has reached since January 2nd.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Hazel

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