Market Greed Index increased by 7 points since the last reading, driven by factors such as volatility and social media hype
Historical data suggests high greed levels often precede market corrections
Spot Bitcoin ETFs have seen seven straight weeks of inflows
The Crypto Fear and Greed Index currently stands at 68, placing it firmly in the Greed zone, which seems to indicate a heightened bullish sentiment. It increased by 7 points since the last reading, driven by factors such as volatility and social media hype. That said, it’s worth noting that historical data suggests high greed levels often precede market corrections.
The index uses various inputs for calculation, which are:
Volatility – 25%
Market volume – 25%
Social media hype – 15%
Market surveys – 15%
Bitcoin dominance – 10%
Google Trends – 10%
Considering the current geopolitical situation between Iran and Israel, along with the risk of Strait of Hormuz disruptions, it might be strange that the Index is rising. However, it’s likely justified (at the very least partly) due to strong institutional presence and the fact that Bitcoin managed to hold above $100k.
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