The Crypto Greed Index has reached its highest level since 2021
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The crypto greed index rose to its highest level since late 2021 after Bitcoin hit an all-time high. of Greed index Yesterday, February 13th, it reached the “Extremely Greedy” level of 79 and now sits at 74.
This new peak follows Bitcoin activity in the past weekAt the time of writing, Alpha Crypto is trading between $51,700 and $52,000.
of Crypto Fear and Greed Index It is a major tracking tool that measures market sentiment in the crypto industry, including indicators such as volatility, market momentum (volume changes), social media, dominance, and other trends.
The index is calculated based on 25% market volatility, 25% market momentum and 15% from social media and trend indicators such as Google Trends. Maintained and calculated by the software analysis and comparison platform Alternative.me, traders usually use the index to make decisions to exit, enter and exercise their positions based on market movements.
With great fear, it is possible to consider the possibility of buying. On the other hand, high greed may indicate that the market is due for a short-term correction, indicating opportunities to sell for profit-seeking investors. The index is updated every 12 hours and responds to short-term changes in the crypto market.
Hitting a high greed score for the first time in years, long-awaited Bitcoin exchange-traded funds (ETFs) in the US last month signaled a resurgence of optimism among crypto investors. As ARK CEO Cathy Wood predicted, some of the short-term sales pressures will “Selling the news“Impact to be used by traders.
“It's going to be a very short period of time because we think it's going to be here that the SEC is going to give the green light to the Bitcoin ETF for institutional investors to participate,” Wood said.
A day after the place Bitcoin ETFs approved On January 10, the index scored 76, which indicates high greed.
Cryptocurrencies remain highly volatile news-based assets. While informative, the crypto fear and greed index is not a substitute for individual research and risk management strategies. This resurgence of extreme greed suggests a renewed bullish momentum as Bitcoin makes its first concerted attempt to defend above $50,000 this year.
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