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Crypto Market Sentiment Turns to Greed as Index Hits 62 š„
The cryptocurrency market is showing signs of increasing optimism. According to BlockBeats, the Fear and Greed Index has climbed to 62, up from 52 the previous day. This marks a clear shift from neutral to greed on the sentiment scale.
The index, which ranges from 0 (extreme fear) to 100 (extreme greed), reflects market psychology and is derived from six key indicators:
Volatility (25%)
Trading Volume (25%)
Social Media Activity (15%)
Market Surveys (15%)
Bitcoin Dominance (10%)
Google Search Trends (10%)
A reading above 60 typically signals rising investor confidence and potentially heightened risk-taking behavior in the crypto space.