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

The jump in the indicator occurred against the background of the growth of the bitcoin exchange rate

13.02.2024 - 10:42

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What’s new? On February 13, the Crypto Market Fear & Greed Index (F&G) reached a score of 79 out of a possible 100, the highest since November 2021, when the bitcoin exchange rate set an all-time high (ATH) of $69 000. As of 09:45 UTC, BTC is trading at $50 097 on Binance, having added 4,22% overnight and 16,4% over the week, according to CoinGecko.

Data by Alternative.me

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? The jump in the index occurred as bitcoin rose above $50 000 on the night of February 13. On February 11, BTC reached its highest weekly close since December 2021, the asset’s exchange rate was $48 315.

Earlier, IntoTheBlock analysts said that the bitcoin price could reach the $52 000 mark in the coming weeks and rise above $100 000 by the end of the year. However, there is one important resistance level left to achieve this goal, $48 500.

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