Fear & Greed Index reaches highest level since November 2021

2024-01-09 05:20:13

The crypto market’s index of fear and greed has reached its highest level since the end of 2021, indicating greed.

According to the latest data from the Alternative.me platform, the Fear and Greed Index in the crypto market has reached its highest level since November 2021. Back then, the price of Bitcoin hit at $69,000. Currently, the figure is 76 points — indicating a bullish greed sentiment not seen since then.

Source: Alternative.meThe index numerically shows the emotions and sentiments of crypto market participants. Now, the needle is in the “extreme greed” zone. Throughout the last month, the indicator fluctuated from 71 to 74. Only on Dec. 5, when the price of Bitcoin (BTC) jumped to $44,000, the needle briefly moved to the 75-point mark.

Previously, the crypto market moved into the “extreme greed” zone on Nov. 11, 2021. Then, the indicator was 77, and the cost of the first cryptocurrency reached a historical maximum.

On Jan. 8, the price of Bitcoin hit another annual high at $47,000. Now, the first cryptocurrency is trading at $46,707. Over the past 24 hours, the asset’s cost has collectively strengthened by 4%.

Source: CoinMarketCapThe greed sentiment comes amid news that issuers of BTC spot ETFs have filed final applications with the U.S. Securities and Exchange Commission (SEC). The regulator, analysts expect, will likely make a decision by Jan. 10.

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