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The Fear and Greed Index has reached its highest level since February 2021.
With Bitcoin (<a href="https://crypto.news/price/bitcoin/" target="_blank" rel="noopener noreferrer nofollow">BTC</a>) approaching an all-time high (<a href="https://crypto.news/tag/ATH/" target="_blank" rel="noopener noreferrer nofollow">ATH</a>), the cryptocurrency Fear and Greed Index has reached 90,
The level of 75-100 shows an extreme level of greed and means that traders in the market are in the mood to buy more. When the market goes up, people tend to accumulate more cryptocurrency, which means they become more greedy, a phenomenon that leads to higher price movements.
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 <img width="1024" height="463" src="https://crypto.news/app/uploads/2024/03/Screenshot-2024-03-05-at-13.20.57-1024x463.png" alt="Crypto fear and greed index reaches three-year high - 1">
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 Source: Alternative.me
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The graph shows that the metric has been below 70 for several years. Market sentiment has improved noticeably since last fall amid the market recovery and its transition to a bullish phase.
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 <img width="1024" height="466" src="https://crypto.news/app/uploads/2024/03/Screenshot-2024-03-05-at-13.22.41-1024x466.png" alt="Crypto fear and greed index reaches three-year high - 2">
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 Source: Alternative.me
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At the time of writing, BTC is trading at $66,700. Over the past 24 hours, the asset has risen in price by 2.4%; in 7 days, it has increased by 17.7%, according to <a href="https://crypto.news/tag/CoinMarketCap/" target="_blank" rel="noopener noreferrer nofollow">CoinMarketCap</a>. Bitcoin’s market capitalization has <a href="https://crypto.news/bitcoin-67000-record-market-cap/" target="_blank" rel="noopener noreferrer nofollow">updated</a> its all-time high above $1.3 trillion, and on March 4, the BTC price reached $68,600 – just below the all-time high recorded in November 2021.
Against this rise, the volume of liquidations on futures on the cryptocurrency market <a href="https://crypto.news/crypto-liquidations-surpass-560-million-bull-run-continues/" target="_blank" rel="noopener noreferrer nofollow">amounted</a> to more than $560 million. Most liquidations occurred on trading pairs with Bitcoin, Ethereum (<a href="https://crypto.news/price/Ethereum/" target="_blank" rel="noopener noreferrer nofollow">ETH</a>), Dogecoin (<a href="https://crypto.news/price/dogecoin/" target="_blank" rel="noopener noreferrer nofollow">DOGE</a>), Shiba Inu (<a href="https://crypto.news/price/Shiba-Inu/" target="_blank" rel="noopener noreferrer nofollow">SHIB</a>). The largest amount of liquidations has traditionally been recorded on the <a href="https://crypto.news/tag/binance/" target="_blank" rel="noopener noreferrer nofollow">Binance</a> and <a href="https://crypto.news/tag/OKX/" target="_blank" rel="noopener noreferrer nofollow">OKX</a> cryptocurrency exchanges.
Read more: <a href="https://crypto.news/bitcoin-trade-volume-hits-highest-level-since-2021-kaiko-says/" rel="noopener noreferrer nofollow"> Bitcoin trade volume hits highest level since 2021, Kaiko says </a>

Crypto fear and greed index reaches three-year high

crypto.news

Other articles published on Mar 5, 2024

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