Bitcoin Fear and Greed Index Rises to 76, Indicating Extreme Greed

Crypto News – As the market anxiously anticipates the approval of a spot Bitcoin ETF, the Crypto Fear and Greed Index has been categorized as extreme greed.

Bitcoin Fear and Greed Index Rises to 76, Indicating Extreme Greed

The market sentiment score for Bitcoin is currently 76 out of 100, according to the Crypto Fear and Greed Index. Since mid-November 2021, when Bitcoin reached its peak price of $69,000, it has had the highest score.

On December 5, the Bitcoin sentiment index, which had a score of 75, momentarily veered toward severe greed. On December 4, Bitcoin crossed the $40,000 threshold, and a day later it reached $44,000. Prior to it, on November 11, 2021, the index reached severe greed, recording a score of 77. Data indicates that just one day ago, the price of Bitcoin touched its all-time high.

Market Sentiment Score Measures According to 6 Parameters

In order to calculate the daily market sentiment score, the Crypto Fear and Greed Index collects and analyzes data from six market key performance indicators: volatility (25%), market momentum and volume (25%), social media (15%), surveys (15%), Bitcoin’s dominance (10%), and trends (10%).

The market sentiment score was in the fear zone on June 15 when BlackRock applied for a spot Bitcoin ETF. However, six days later, when multiple other asset managers followed BlackRock’s lead, the score shot up to 59 (the greed zone). On June 26, 2019, the market sentiment score reached its peak point of 95, and on June 16, 2022, following the demise of Do Kwon‘s Terra ecosystem, it reached its lowest point of seven.