With the price of Bitcoin surging to a new all-time high above $82,000 Monday morning, optimism among crypto investors has reached extreme levels.
A key market sentiment gauge, the Crypto Fear and Greed Index, surged to an “Extreme Greed” reading of 78 out of 100 Sunday—marking its second-highest level this year after March’s peak of 82. By Monday morning, it had receded to a reading of 76.
The dramatic shift in market sentiment has seen the index move from neutral (49) just 30 days ago to its current elevated position. Typically, it indicates a market environment characterized by heightened optimism and potential risk-taking behavior among investors.
A surge in sentiment coincides with Bitcoin jumping above $80,000 for the first…
Nov 13 2024
