Bitcoin is approaching an all-time high, surpassing the $66 000 mark

Fear and Greed Index rises to 90 points for the first time since February 2021

05.03.2024 - 10:52

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1 min

What’s new? On March 5, the Crypto Market Fear and Greed Index (F&G) reached 90 points out of a possible 100, the highest since February 2021. At the peak of the bull market, when the bitcoin exchange rate reached an all-time high of $69 000 (November 2021), the F&G was 84/100. At the time of writing, BTC is trading at $66 368 on Binance, having added 1,63% in 24 hours and 18% in a week (data from the CoinGecko aggregator).

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? On February 11, BTC reached its highest weekly close since December 2021, the asset’s exchange rate was $48 315. On February 13, F&G reached as high as 79 as bitcoin surged above $50 000.

On March 5, the 30-day bitcoin volatility index on crypto exchange Deribit (DVOL) rose from 41% to 76% in a month, reaching its highest since November 2022. In addition, a platform user sold 250 call option contracts worth $75 000 expiring in December.

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