Fear and Greed Index of the crypto market reaches “greed” for the first time in ten months
The index rose to 55 for the first time since March 30, 2022
27.01.2023 - 10:20
What’s new? On January 27, the Crypto Market Fear & Greed Index (F&G) moved into the “greed” zone for the first time since March 30, 2022. The index hit 55, which may be the result of bitcoin’s rate rise since the beginning of the year and the general recovery of the entire digital asset market. Just yesterday the F&G was in the “neutral” zone at 54, in just one month the index has risen by 27 points. As of 10:10 UTC, BTC is trading at $22 959, having gained 0,05% in 24 hours and 34,21% in a month, according to Binance.
Crypto Fear & Greed Index is an indicator that 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.
On May 17, the F&G index was down to its lowest level since March 28, 2020, hitting 8/100. Market turmoil began after the collapse of the TerraUSD (UST) stablecoin rate and the loss of the Tether (USDT) peg to the US dollar. On June 16, the market sentiment indicator fell to its lowest level since the COVID-19 pandemic, reaching a value of 7, which means “extreme fear”. The reasons for the decline were the prevailing bearish trend and the fall in the BTC rate.
On January 15, 2023, the index moved into the “neutral” zone, rising to 52 for the first time since April 2022. This was probably facilitated by the growth of the bitcoin rate.
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