Greed

United

Bitcoin

The global crypto market is experiencing a surge, with Bitcoin leading the charge, reflecting heightened investor optimism and <a href="https://news.todayq.com/bitcoin-trading-vol-up-by-104-shorters-bleed/" target="_blank" rel="noopener noreferrer nofollow">trading activity</a>. The Crypto Fear and Greed Index has surged to its highest level since Bitcoin peaked at $69,000 (ATH), signaling a surge in investor enthusiasm. This Index is a kind of an indicator or a measure of the market sentiment in the crypto world.&nbsp; Fear and Greed Index turned ‘extremely’ green 
According to data from Alternative.me, the index soared to 79 on February 13th, marking its highest point since mid-November 2021 when Bitcoin’s price reached its all-time high (ATH). This surge in greed follows closely on the heels of Bitcoin crossing the $50,000 mark on February 12th. The crypto market has been on a solid uptrend in recent months. Bitcoin has gained around 13% in value since the beginning of the year, as per CoinGecko.
Reaching 79 points for the first time in over two years places the Crypto Fear and Greed Index in the “extreme greed” zone, indicating heightened market optimism. This level of greed was last seen when the index exceeded 74 in mid-November 2021. Currently, it stands at 72, according to data from CoinMarketCap.
The recent spike on the greed side coincides with the ongoing rally in Bitcoin. It’s fueled by various factors, including the launch of <a href="https://news.todayq.com/spot-bitcoin-etf-approvals-may-attract-more-investors-from-canada-to-the-us/" target="_blank" rel="noopener noreferrer nofollow">spot Bitcoin exchange-traded funds</a> (ETFs) in the United States. In January, the index peaked at 76 amidst the excitement surrounding the debut of these ETFs. Wood’s comment and BTC market 
Commenting on the short-term impact of spot Bitcoin ETF approval, ARK Invest CEO <a href="https://news.todayq.com/cathie-wood-buys-the-dip-onloads-more-of-this-crypto-shares/" target="_blank" rel="noopener noreferrer nofollow">Cathie Wood </a>stated, “That would be very short-term because what we think is going to happen here is that the SEC is going to be giving the spot Bitcoin ETF the green light for institutional investors to participate.”
The Crypto Fear and Greed Index is calculated using various signals influencing trader and investor behavior, including Google Trends, surveys, market momentum, market dominance, social media trends, and market volatility. Market volatility and momentum contribute 25% to the index, while social media trends and other indicators make up the remaining 15%.
Bitcoin (BTC) is on an upward trend, currently priced at $49,963.36 with a 4.26% increase in the past day. Its market cap has risen by 4.32% to $980.62 billion, maintaining its position as the top currency. Trading volume surged by 94.20% to $39.6 billion, indicating growing investor interest. With 19.63 million BTC in circulation, Bitcoin’s market performance aligns with the heightened optimism reflected in the Crypto Fear and Greed Index, which recently hit a two-year high.
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Extreme greed alert! Crypto Fear and Greed index hits 79

Todayq News

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