Fear and Greed Index reaches highest level since November 2021
[ad_1]
The fear and greed index in the crypto market has reached its highest level since late 2021, indicating greed.
According to the latest data from the Alternative.me platform, the fear and greed index in the crypto market has reached its highest level since November 2021. At the time, the price of Bitcoin hit $69,000. Currently, the number stands at 76 points – indicating bullish greed not seen since then.
The index numerically displays the mood and sentiment of cryptocurrency market participants. The pointer is now in “extremely greedy” territory. Throughout the last month, the indicator has fluctuated between 71 and 74 points. It wasn’t until December 5, when the price of Bitcoin (BTC) jumped to $44,000, that the needle briefly moved to the 75-point mark.
Previously, the cryptocurrency market entered the “extreme greed” zone on November 11, 2021. Subsequently, the indicator reached 77 and the cost of the first cryptocurrency reached an all-time high.
On January 8, the price of Bitcoin reached a new high, reaching $47,000. Now, the first cryptocurrency is trading at $46,707. Asset costs rose a total of 4% in the past 24 hours.
The greed comes amid news that the issuer of a BTC spot ETF has submitted a final application to the U.S. Securities and Exchange Commission (SEC). Analysts expect regulators may make a decision by January 10.
