Bitcoin traders are collectively nervous! The greed index at 71 hides danger, and whales have placed 70 billion short orders, retail investors: afraid of the rise
The cryptocurrency fear and greed index has slightly declined from 74 yesterday to 71, indicating that the market's exuberance has cooled slightly, but overall it remains in the greed range.
This index acts like a thermometer for market sentiment, calculated through six major indicators
Price volatility accounts for 25% of the weight
Trading volume heat 25%
Social media discussions 15%
Investor surveys 15%
Bitcoin market share 10%
Google search trends 10%
A score of 71 means that investors' risk appetite remains strong, but some indicators such as volatility or trading volume may show short-term pullback signals. Historically, when the index breaks 75 and enters the 'extreme greed' zone, the market often approaches a temporary high point. This slight decline from 74 to 71 can be seen as the market spontaneously pressing the brakes, which helps to extend the upward cycle.
The market is still in an 'excited' state, but today has sobered up a bit
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