Crypto Fear and Greed Index Peaks at 64 Amid Bitcoin Price Surge
The Crypto Fear and Greed Index has been above 60 for two days running, marking its highest point since July. According to CoinMarketCap, the index’s September 28 update indicated a score of 64, putting it in the greed category as the price of Bitcoin momentarily approached $66,000.
August was mostly characterized by fear, with the lowest score of 2024, 17, occurring on August 6 at a time when the price of Bitcoin was approximately $53,000. When the price of Bitcoin was about $66,000 on July 30, the index last registered a score higher than 64. Based on signs that affect traders’ and investors’ behavior, such as Google Trends, surveys, market dominance, market momentum, social media, and market volatility, the Crypto Fear & Greed Index is computed.
FOMO Could Fuel Fourth-Quarter Crypto Rally After Bitcoin’s 11% Surge
According to Markus Thielen, head of research at 10x Research and analyst, a fourth-quarter cryptocurrency rally may occur as a result of the market’s potential for FOMO (fear of missing out), following Bitcoin’s comeback above the $65,000 price level. Data from CoinMarketCap indicates that Bitcoin has gained 11.18% in the last month, the most since March. In the meantime, major inflows are expected as traders abandon gold and other assets, according to Charles Edwards, founder and CEO of investment firm Capriole.
The capital flows back into Bitcoin from gold and stocks over the next 6 months will be relentless,
Edwards
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