Crypto Fear & Greed Index Hits Highest Point Since Bitcoin’s 2021 Record High

 

Before getting into it, let’s have a quick look at what a BTC Fear & Greed Index is.

• The Fear and Greed Index is a tool measuring sentiment in the cryptocurrency market.
• The Crypto Fear and Greed Index is calculated based on signals that impact the behaviour of traders and investors, including Google Trends, surveys, market momentum, market dominance, social media and market volatility.
• The index has a value of between 0 and 100.

The index is now at 79 out of 100 – its highest score since Bitcoin reached the $69,000 mark back in November 2021.

The digital asset has been making its way up since the weekend – specifically February 12 – where it jumped from an approximate level of $42k to $50k upwards.

With Bitcoin currently trading at $51,687 and other crypto assets also rising, traders have entered a period of “extreme greed".

 

Source: TradingView

The cryptocurrency has been seeing a solid rally over the past few months, adding about 13% to its value year-to-date, according to data from CoinGecko.

 

Source: Alternative.me

Despite the Crypto Fear and Greed Index providing insights into the state of the crypto market, individual traders as well as investors are always recommended to still conduct their research concerning the suitable tools to achieve their investment goals.

The question now remains – are we headed for another $69,000?