Yesterday, January 15, the Fear and Greed index hit 52, which is a neutral indicator reflecting market sentiment.. On June 9, 2022, the index hit an all-time low of 9 and has since hovered between 20 and 30, in line with “fear” in the market.
The index is driven by market sentiment, with data coming from a variety of sources.. The indicator also takes into account the current volatility of bitcoin, trading volumes and messages on social networks.. The indicator scale is divided into five categories – from extreme fear to extreme greed. At the same time, the last state has not been recorded since October 2021.
Note that since the beginning of the year, the rate of the first cryptocurrency has grown by 28%.. Now bitcoin is trading above $21,000, thus, the cryptocurrency market won back the losses after the collapse of the FTX exchange. At the same time, some indicators, such as RSI, show maximum values over the past 4 years.
Recall that yesterday another recalculation of the complexity of mining took place. The indicator grew by 10% and reached a record value of 37 terahashes.