Bitrabo Editorial
Recent data reveals that the sentiment among Bitcoin investors has shifted away from greed following a crash in the asset below $61,000.
Bitcoin Fear & Greed Index Shows Neutral State
The “Fear & Greed Index” is a tool designed by Alternative to gauge the prevailing sentiment shared by traders in the Bitcoin and broader cryptocurrency market.
This index assesses five factors – volatility, trading volume, social media sentiment, market cap dominance, and Google Trends – to determine the sentiment level. It employs a scale from zero to a hundred, where values below 47 indicate fear, those above 53 suggest greed, and the middle range signifies a neutral outlook.
Currently, the Bitcoin Fear & Greed Index is at 51, reflecting a shift from yesterday’s 55, signaling a move from greed to neutrality amid a bearish market trend in the past 24 hours.
The index graph over the past year demonstrates a sharp decline with the recent plunge indicating a move from a significant greed level to more neutral territory.
Impact on BTC Price
Bitcoin is currently trading around $60,300, down by over 10% in the past week.