The Crypto Fear and Greed Index is measuring extreme greed in the cryptocurrency industry as investors eagerly anticipate the approval of a Bitcoin exchange-traded fund.
Currently at a score of 76 out of a possible 100, this is the highest sentiment score since Bitcoin reached its peak of $69,000 in mid-November 2021.
The index briefly reached extreme greed on Dec. 5 with a score of 75, coinciding with Bitcoin surpassing $40,000 and reaching $44,000 a day later.
Prior to this, the index reached extreme greed on Nov. 11, 2021, with a score of 77, just a day after Bitcoin hit its all-time high price.
The Crypto Fear and Greed Index takes into account six key performance indicators, including market volatility, momentum, and social media activity, among others.
