Fear & greed index
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According khổng lồ the indicator, which is updated daily khổng lồ determine market sentiment related to lớn fear & greed, the index currently believes that market sentiment is sitting at đôi mươi.
The index rates a value from zero lớn 100, where a value of zero means “Extreme Fear” while a value of 100 represents “Extreme Greed.”
Currently the index utilizes volatility, market momentum coupled with volume, social media, dominance và trends to lớn determine the score.
Fear at yearly high
The lachạy thử number indicates that the market sentiment is extremely fearful. Reading a number of đôi mươi. The index has not rated so low on the index since April 20đôi mươi. Making the recent grading a new yearly low in the market.
Following the dramatic price drop BTC experienced in March 2020, when the price sank một nửa over a period of two days, the fear và greed index reached single digits, totalling eight on the indicator.
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Previous scores
The new yearly low comes just one week after the index scored 73, otherwise called “greed”. The last month has seen “extreme greed.” However the index now believes the market is fearful of what might occur in the future. This score is rationalized as “a sign that investors are too worried. That could be a buying opportunity” the website explains.
BTC dominance và price climbing
Regardless of the fear & greed index, BTC has rebounded in price following a volatile week that has seen the price drop consecutively for seven straight days. BTC has dropped from $59,600 to $46,400 on Sunday. A $13,200 price reduction within one week.
However BTC appears lớn be stabilizing as the price & dominance saw gains on Sunday. With BTC climbing 4.45%, and dominance up 0.44% at the time of writing.
Outliers affecting the market
Story continues
The rapid decrease in the fear and greed index comes during a week when Tesla CEO Elon Musk announced that Tesla would stop accepting BTC as a payment option. Citing energy consumption concerns related to lớn BTC mining.
Musk also played a role in the popular cryplớn Dogecoin (DOGE) reaching a new all-time high ahead of the billionaire’s Saturday Night Live performance. However the price swiftly corrected nearly 1/2 following the aired show.
While Musk still backs DOGE, crypto pioneers have sầu spoken out about the Tesla CEO’s comments on BTC. Changpeng Zhao, Michael Saylor, and Ari Paul have all spoken against Musk’s criticisms related to lớn BTC.
Chuyên mục: Công nghệ tài chính
