Fear and Greed Index has moved into the “extreme greed” zone for the first time since November 2021

The indicator has reached 76/100

09.01.2024 - 10:55

211

2 min

What’s new? On January 9, the Crypto Market Fear & Greed Index (F&G) reached a score of 76 out of a possible 100, the highest since November 2021, when the bitcoin rate set an all-time high (ATH) of $69 000. As of 10:10 UTC, BTC is trading at $46 615 on Binance, having added 6,31% overnight and 1,9% over the week, according to CoinGecko.

Alternative.me’s data

Crypto Fear & Greed Index measures the general mood of investors in the market. It is measured on a numerical scale from 0 (“extreme fear”) to 100 (“extreme greed.”) Various data such as volatility, bitcoin capitalization, market volume, as well as social media sentiment are analyzed to determine the index.

What else is known? Market sentiment has moved into the zone of “extreme greed” as the industry awaits the launch of spot bitcoin exchange-traded funds (ETFs) in the United States.

Billionaire Chamath Palihapitiya noted that the approval of such instruments by the securities regulator SEC will lead to the mass adoption of bitcoin and change the rules of the game.

Michael Saylor: The launch of spot BTC ETFs will be the biggest event on Wall Street since 1993

According to the businessman, the asset expects explosive growth in demand from both retail and institutional investors

According to media reports, the SEC may allow spot BTC ETFs to enter the market as early as the first half of January. Investment companies BlackRock, Valkyrie, Fidelity, VanEck, Bitwise, Grayscale, ARK Invest, and others are waiting for approval to launch such products.

Author: