Bitcoin

<ul><li>The crypto fear and greed index is a composite of market sentiment indicators.</li><li>The price of Bitcoin has dropped 1.5% in the previous 24 hours to below $29,491.</li></ul>Data from Alternative shows that on March 21, 2023, the Bitcoin fear &amp; greed index reached its highest point in 16 months, at 69. Bitcoin finally returned to its “greed” phase in January 2023, its first appearance since March 2022. As a result, the greed index has moved deeper into positive territory, sitting at 69 at the time of this writing.The crypto fear and greed index is a composite of market sentiment indicators. The index is dynamic and is revised every day. The index evolves in response to shifting market circumstances, the volatility of <a href="https://thenewscrypto.com/tag/cryptocurrency/" rel="noopener noreferrer nofollow">crypto</a> assets, market data, trading volume, and other elements.<h3 id="market-downturn-next">Market Downturn Next?</h3>Investors and traders may use the index to make educated decisions. There is a common belief that times of great panic provide excellent purchasing opportunities. Similarly, when investor greed becomes excessive, a market downturn is likely.After the failure of major financial institutions, notably <a href="https://thenewscrypto.com/tag/svb/" rel="noopener noreferrer nofollow">Silicon Valley Bank</a>, the value of Bitcoin steadily increased. Bitcoin’s price has risen 7.1% over the last 30 days, 3.1% over the past 14 days, and 1.57% over the past week, as measured by statistics from CMC.After breaking above the $30,000 barrier last week for the first time since June 2022, when the selloff in digital assets intensified into a harsh bear market, the price of <a href="https://thenewscrypto.com/tag/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin</a> has dropped 1.5% in the previous 24 hours to below $29,491.  Recently, Bitcoin reached a trading high of $31,000, part of a surge that has pushed its price more than 80% higher so far this year.

Bitcoin Fear and Greed Index Moves Into Greed Territory at 69 Mark

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