Crypto Fear & Greed Index Jumps Back into Greed Territory

The Crypto Fear and Greed Index has reached its highest constituent since July, spending 2 consecutive days supra a people of 60. 

The index’s Sept. 28 update showed a people of 64, placing it wrong nan “Greed” territory arsenic nan Bitcoin (BTC) value concisely touched nan $66,000 mark, according to CoinMarketCap.

The Crypto Fear and Greed Index was created to numerically coming nan existent “emotions and sentiments” toward Bitcoin and the crypto market. The highest people is 100, and nan lowest is 0. 

The Index's people of 64 arsenic shown connected Sept. 28. Source: alternative.me

August had an mean standing of “Fear,” arsenic nan scale people struggled to surpass 60 and deed its lowest people of 2024, pinch a 17 connected Aug. 6, erstwhile nan value of Bitcoin was astir $53,000. 

The past clip nan scale recorded a people supra 64 was connected July 30, erstwhile nan Bitcoin value was besides astir $66,000. 

The Crypto Fear & Greed Index is calculated based connected signals that effect traders’ and investors’ behavior, including Google Trends, surveys, market momentum, marketplace dominance, societal media and marketplace volatility.

According to Crypto Fear & Greed Index information sources page, nan scale people is based disconnected 25% of marketplace volatility, 25% of marketplace momentum and 15% of societal media trends and different indicators.

Related: Bitcoin has ‘familiar bullish smell’ arsenic BTC value hits $66K — Analyst

0x Research caput of investigation Markus Thielen said successful a Sept. 27 report he thinks location could beryllium a Q4 crypto rally because Bitcoin’s return supra nan $65,000 value level could create fearfulness of missing out, aliases FOMO successful nan market. 

According to CoinMarketCap data, Bitcoin has recorded gains of astir 11.18% complete nan past month, nan highest since March.  

Meanwhile, Charles Edwards, laminitis and CEO of finance patient Capriole, predicted important inflows arsenic traders time off golden and different stocks. 

“The superior flows backmost into Bitcoin from golden and stocks complete nan adjacent 6 months will beryllium relentless,” Edwards said successful a Sept. 27 X post. 

Source: Charles Edwards 

Asset guidance elephantine VanEck has classed Bitcoin arsenic nan apical performing plus this year, acold outpacing accepted assets, pinch a 124% surge successful nan past 12 months. 

However, nan plus head besides noted a caller downturn has investors “spooked.” 

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