The crypto fear and greed index is an aggregate of various components and factors of the current crypto market. The index is updated on a daily basis, and it varies. With the change in market conditions, crypto asset volatility, market statistics, trading volume, and other factors, the index changes.
The index helps investors and traders make the right move in the market. The general indication is that when there is extreme fear, it could be a buying opportunity. Similarly, when there is too much greed in the market, investors should brace for a correction.
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According to the data from Alternative, the Bitcoin fear & greed index has touched a 16-month high of 68.
Bitcoin fear & greed index reaches a 16-month high
Bitcoin entered the “greed” phase for the first time since March 2022 in January 2023. Following that, the greed index is in the green and stands at 68 at press time.
BTC has been bullish ever since the collapse of Silicon Valley Bank and other banks. Bitcoin has spiked by 15.2% in the last 30 days, 26.6% in the last 14 days, and 17.45% in the last seven days, according to the data from CoinGecko.
At press time, BTC is trading at $28,338. Bitcoin is also up from its one-month low of $19,628 and touched $28,527 before falling to its current price.