Data shows the Bitcoin Fear & Greed Index has marked an improvement after the latest price surge, but its value is still inside the extreme fear zone.<\/p>\n
Bitcoin ended last week on a mixed note, first observing a sharp surge near $74,000 on Friday, but then dropping back into the low $70,000 levels inside the same day. The weekend saw the asset consolidate, but it seems the new week has brought with it fresh bullish momentum as BTC has jumped<\/a> once more.<\/p>\n As the below chart shows, Bitcoin went further than the Friday jump this time, briefly hitting $74,400.<\/p>\n The cryptocurrency has pulled back a bit since the high, but with a current value of $73,200, it remains more than 7% in the green on the weekly timeframe. BTC hasn\u2019t been alone in the bullish push as the altcoins have also observed rallies. Ethereum<\/a>, the second largest digital asset, has seen even better returns than Bitcoin, being up 13% on the week.<\/p>\n Recent trader sentiment has been poor because of the extended bearish price action, but the new recovery has led to some improvement.<\/p>\n The \u201cFear & Greed Index<\/a>\u201d refers to an indicator created by Alternative<\/a> that tells us about the average sentiment present among investors in the Bitcoin and wider cryptocurrency markets. The index determines the trader mentality using the data of five factors: market cap dominance, trading volume, volatility, social media sentiment, and Google Trends. To represent the sentiment, it uses a numerical scale running from 0 to 100.<\/p>\n All values above 53 on this scale correspond to a sentiment of greed, while those under 47 to one of fear. The values in between imply a net neutral market mentality. Besides these three core zones, there are also two extreme territories on the index called the extreme fear (25 and under) and extreme greed (above 75).<\/p>\n All the recent bearish price action pushed the market down into one of these extreme zones, as the chart below shows:<\/p>\n From the graph, it\u2019s visible that since dropping down deep into the extreme fear zone in February, the Fear & Greed Index has steadily been improving this month. The latest Bitcoin recovery surge, in particular, has induced a notable jump in the indicator.<\/p>\n However, the trader sentiment still hasn\u2019t improved enough to escape the extreme fear zone. Nonetheless, at a current value of 23, the index is now very close to transitioning into the normal fear region.<\/p>","protected":false},"excerpt":{"rendered":" Data shows the Bitcoin Fear & Greed Index has marked an improvement after the latest price surge, but its value is still inside the extreme fear zone. Bitcoin Has Witnessed A Price Jump Over The Past Day Bitcoin ended last week on a mixed note, first observing a sharp surge near $74,000 on Friday, but […]<\/p>\n","protected":false},"author":0,"featured_media":142564,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-142563","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/142563"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=142563"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/142563\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/142564"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=142563"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=142563"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=142563"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}BTC Fear & Greed Index Now At Edge Of Extreme Fear Territory<\/h2>\n