The crypto market’s index of concern and greed has reached its highest stage for the reason that finish of 2021, indicating greed.
Based on the newest knowledge from the Various.me platform, the Worry and Greed Index within the crypto market has reached its highest stage since November 2021. Again then, the worth of Bitcoin hit at $69,000. At present, the determine is 76 factors — indicating a bullish greed sentiment not seen since then.
The index numerically reveals the feelings and sentiments of crypto market contributors. Now, the needle is within the “excessive greed” zone. All through the final month, the indicator fluctuated from 71 to 74. Solely on Dec. 5, when the worth of Bitcoin (BTC) jumped to $44,000, the needle briefly moved to the 75-point mark.
Beforehand, the crypto market moved into the “excessive greed” zone on Nov. 11, 2021. Then, the indicator was 77, and the price of the primary cryptocurrency reached a historic most.
On Jan. 8, the worth of Bitcoin hit one other annual excessive at $47,000. Now, the primary cryptocurrency is buying and selling at $46,707. Over the previous 24 hours, the asset’s value has collectively strengthened by 4%.
The greed sentiment comes amid information that issuers of BTC spot ETFs have filed ultimate functions with the U.S. Securities and Change Fee (SEC). The regulator, analysts count on, will probably decide by Jan. 10.