According to Cointelegraph: The Crypto Fear and Greed Index, a tool that tracks cryptocurrency market sentiment, has surged to a level unseen since the all-time high (ATH) of Bitcoin. The index reached as high as 79 on February 13, similar to mid-November 2021, when Bitcoin peaked at $69,000. The last surge in greed according to the index followed Bitcoin surpassing $50,000 on February 12.
This rally in Bitcoin and consecutive index spike come approximately a month after spot Bitcoin exchange-traded funds (ETFs) launched in the US, potentially signaling the end of short-term selling associated with news of the ETF approval.
The Crypto Fear and Greed Index measures various factors that affect traders' and investors' behavior, including market momentum, market dominance, social media trends, Google Trends, and market volatility. The index indicates that a result exceeding 74 signifies "extreme greed."
However, while the index provides insights into the status of the crypto market, individual traders and investors are advised to carry out their research concerning tools that align with their investment objectives.
