Crypto Fear & Greed Index Hits Highest Level Since Bitcoin's 2021 Record High

The Fear & Greed Index for Bitcoin, which aggregates data on market momentum, volatility, volume and social media, is now at 79 out of 100, its highest score since Bitcoin reached $69,000 in November 2021.

AccessTimeIconFeb 14, 2024 at 1:37 a.m. UTC
Updated Mar 8, 2024 at 9:30 p.m. UTC
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With the price of bitcoin now well over $49,000 and other crypto assets rising, traders have entered a period of “extreme greed,” according to a well-known index measuring market sentiment.

The Fear & Greed Index, published by data source, measures market enthusiasm for bitcoin and other prominent digital assets. The last time the index reached a score of 79 out of 100 was when bitcoin hit its all-time high around $69,000 in November 2021.

“When investors are getting too greedy, that means the market is due for a correction,” said on its website.

It’s an axiom of the market that savvy traders prefer buying when the index shows extreme fear, and that they become more cautious when greed is higher. But, of course, that might not be the case.

The index has been routinely above 70 (the threshold for “greed”) since October last year. It fell as low as 50 following the approval of bitcoin ETFs in January, which initially turned out to be a “sell-the-news” event.

Bitcoin has more than doubled in price in the last 12 months. A year ago today, one coin was worth as little as $21,000 and yesterday the price briefly rose above $50,000. The price has retreated a hair to $49,400 at press time.


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Ben Schiller

Ben Schiller is CoinDesk's managing editor for features and opinion. Previously, he was editor-in-chief at BREAKER Magazine and a staff writer at Fast Company. He holds some ETH, BTC and LINK.

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