Data shows the Bitcoin market sentiment has nearly turned to extreme greed as the cryptocurrency’s price has rallied to the $68,000 mark. Bitcoin Fear & Greed Index Is Currently Inside The Greed Region The “Fear & Greed Index” is an indicator created by Alternative that tells us about the average sentiment present among traders in the Bitcoin and wider cryptocurrency markets. This index makes use of the data of the following five factors in order to determine the sentiment: trading volume, volatility, social media sentiment, market cap dominance, and Google Trends. Once found, it represents the market mentality as a score between 0 and 100. When the metric has a value greater than 53, it means the traders as a whole share a sentiment of greed right now. On the other hand, it being under the 47 mark implies the dominance of fear in the market. The territory in-between these two corresponds to a net neutral mentality. Related Reading: Ethereum Open Interest Sees Fastest Rise In 5 Months: Brace For More Volatility? Besides these three main sentiment zones, there are also t ..
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