Crypto market sentiment turns ‘neutral’ days after spot bitcoin ETF approval, index shows

Published 1 minute earlier on

The current sentiment of the cryptocurrency market turned “neutral” on Monday following nearly three months in the “greed” phase, according to the Crypto Fear and Greed Index by tracker Alternative.me.

The index currently shows a score of 52, indicating neutrality on a scale of 0 to 100. Near-zero levels suggest “extreme fear,” while near-100 levels indicate “extreme greed.”

The indicator had remained in the “greed” territory since Oct. 24 last year and hit a high of 76 points on Jan. 9 in anticipation of the U.S. approval of spot bitcoin exchange-traded funds.

The index takes into account multiple factors, including volatility, market volume, social media, dominance and trends, according to its website.

Bitcoin traded flat at around $42,550 over the past 24 hours as of 12:40 p.m. Hong Kong time, according to The Block’s price page.


Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.

© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *