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Today the value of the Bitcoin Fear and Greed index has dropped to very low levels.  It is necessary, however, to specify that this index does not measure the market sentiment in real time, but actually indicates the state of the sentiment of the previous day. So the value of today refers to yesterday, while today the crypto markets seem to have been a bit surprised.  Excess of fear today: Fear and Greed Index of Bitcoin at 17 Today the value of the index Fear and Greed of Bitcoin has dropped to 17.  Since this value ranges from zero (maximum fear) to one hundred (maximum enthusiasm, or greed), 17 is actually a much lower value compared to the neutral mark of 50.  It is also worth noting that it has been declining for seven days now.  On July 29, it was at 74, which means it was well into the enthusiasm zone.  Already on July 30, after the drop from $70,000 to $66,000, it had fallen to 67, but at that point everything was still completely normal.  The anomaly started with the data from August 3rd (37), after a day in which the price of Bitcoin had fallen below $62,000, a level reached only two weeks earlier.  At that point, it was already clear that an excess of fear was starting to spread in the markets, because 37 is a decidedly low level, while the price of Bitcoin above $61,000 was perfectly normal.  The sequence of the following days seems to confirm the excess of fear.  Bitcoin: the collapse of today’s Fear and Greed Index On August 4th, the Fear and Greed index of Bitcoin remained at 34, but yesterday it dropped to 26, and today it has plummeted to 17.  In other words, in just one week it went…

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Filed under: News - @ August 6, 2024 4:20 pm