Bitcoin Fear and Greed Index Spikes to 16-Month High
The Bitcoin Fear & Greed index is at its highest since November 2021 – and Bitcoin has moved back over $28K this morning
Bitcoin Fear and Greed Index Spikes to 16-Month High as BTC Exceeds $28K
“The Fear and Greed Index – a metric that shows the overall sentiment toward bitcoin – currently points at 66, the highest level since November 2021.
One factor behind the investors’ predominantly bullish perspective could be the impressive price performance of the primary cryptocurrency, which has been up nearly 30% for the past week.
Greed Among Investors
Most cryptocurrencies, including bitcoin, have recently shown remarkable resilience to the global economic issues surging to levels unseen in several months. The primary digital asset recently tapped $28,500, increasing its price by almost 30% in one week.
The rally seems to have affected the popular Bitcoin Fear and Greed Index – a metric that tracks numerous segments, such as price volatility, social media comments, and surveys, to determine the momentary investor sentiment towards BTC.
Currently, it sits in ‘Greed’ territory, pointing at 66. The last time the index reached that mark was in mid-November 2021, a few days after bitcoin hit its all-time high price of nearly $70,000.”
https://cryptopotato.com/bitcoin-fear-and-greed-index-spikes-to-16-month-high-as-btc-exceeds-28k/