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- The crypto fear and greed index aggregates various market sentiment indicators.
- Bitcoin’s price fell 1.5% in the last 24 hours, dropping below $29,491.
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Data from Alternative.me indicates that on March 21, 2023, the Bitcoin Fear and Greed Index reached its highest level in 16 months, hitting 69. Bitcoin re-entered the “greed” phase in January 2023, marking its first appearance in this territory since March 2022. Consequently, the index has moved deeper into positive territory, standing at 69 at the time of this report.
Bitcoin Fear and Greed Index is 69 — Greed
Current price: $29,812 pic.twitter.com/yJK8v9MPlG— Bitcoin Fear and Greed Index (@BitcoinFear) April 17, 2023
The crypto fear and greed index is a composite of market sentiment indicators. It is a dynamic metric that is updated daily. The index evolves in response to shifting market conditions, cryptocurrency volatility, market data, trading volume, and other factors.Market Downturn Next?
Investors and traders can utilize the index to make informed decisions. A common belief holds that periods of extreme panic offer excellent buying opportunities. Conversely, when investor greed becomes excessive, a market downturn is often anticipated.
Following the collapse of major financial institutions, notably Silicon Valley Bank, Bitcoin’s value steadily increased. According to data from CoinMarketCap (CMC), Bitcoin’s price has risen 7.1% over the last 30 days, 3.1% over the past 14 days, and 1.57% over the past week.
After breaking above the $30,000 barrier last week for the first time since June 2022—when the selloff in digital assets intensified into a harsh bear market—Bitcoin’s price has dropped 1.5% in the previous 24 hours to below $29,491. Recently, Bitcoin reached a trading high of $31,000, part of a surge that has pushed its price more than 80% higher so far this year.
