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Bitcoin Fear & Greed Index Nears Neutral As Price Recovers
Recent data indicates an improvement in trader sentiment as Bitcoin experiences a recovery surge.
Bitcoin Fear & Greed Index Update
- The Fear & Greed Index, created by Alternative, measures market sentiment based on trading volume, volatility, market cap dominance, social media sentiment, and Google Trends.
- The index ranges from zero to hundred: below 47 indicates fear, above 53 indicates greed, and between these is neutral.
- Currently, the index is at 42, suggesting a fearful sentiment but nearing neutrality. It was recently in extreme fear territory.
- Bitcoin's recent recovery is moving sentiment toward neutral, with potential for reaching greed if the uptrend continues.
- Historically, extreme fear or greed often precedes significant market moves in the opposite direction.
BTC Price Movement
- Bitcoin's price briefly surpassed $94,000 but has since retreated to $92,000.
