Crypto fear & greed index
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According to the indicator, which is updated daily lớn determine market sentiment related lớn fear and greed, the index currently believes that market sentiment is sitting at đôi mươi.
The index rates a value from zero to 100, where a value of zero means “Extreme Fear” while a value of 100 represents “Extreme Greed.”
Currently the index utilizes volatility, market momentum coupled with volume, social truyền thông, dominance và trends khổng lồ determine the score.
Fear at yearly high
The lathử nghiệm number indicates that the market sentiment is extremely fearful. Reading a number of 20. The index has not rated so low on the index since April 20đôi mươi. Making the recent grading a new yearly low in the market.
Following the dramatic price drop BTC experienced in March 20đôi mươi, when the price sank 50% over a period of two days, the fear và greed index reached single digits, totalling eight on the indicator.
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Previous scores
The new yearly low comes just one week after the index scored 73, otherwise called “greed”. The last month has seen “extreme greed.” However the index now believes the market is fearful of what might occur in the future. This score is rationalized as “a sign that investors are too worried. That could be a buying opportunity” the trang web explains.
BTC dominance & price climbing
Regardless of the fear & greed index, BTC has rebounded in price following a volatile week that has seen the price drop consecutively for seven straight days. BTC has dropped from $59,600 to lớn $46,400 on Sunday. A $13,200 price reduction within one week.
However BTC appears to lớn be stabilizing as the price & dominance saw gains on Sunday. With BTC climbing 4.45%, và dominance up 0.44% at the time of writing.
Outliers affecting the market
Story continues
The rapid decrease in the fear and greed index comes during a week when Tesla CEO Elon Musk announced that Tesla would stop accepting BTC as a payment option. Citing energy consumption concerns related to lớn BTC mining.
Musk also played a role in the popular crypkhổng lồ Dogecoin (DOGE) reaching a new all-time high ahead of the billionaire’s Saturday Night Live performance. However the price swiftly corrected nearly 1/2 following the aired show.
While Musk still backs DOGE, cryplớn pioneers have sầu spoken out about the Tesla CEO’s comments on BTC. Changpeng Zhao, Michael Saylor, & Ari Paul have all spoken against Musk’s criticisms related lớn BTC.
