The crypto Fear & Greed Index has flipped to greed. Euphoria is returning to the market.
With Bitcoin’s recent rally from lows of $21,000, whales and traders have become more confident in the leading cryptocurrency.
When the Fear & Greed Index turns green, it usually indicates that whales and larger traders are getting ready to sell the greed and euphoria.
Crypto Fear & Greed Index turns green for greed
The crypto Fear & Greed Index is an overview of the current crypto market’s sentiment. The index takes into consideration multiple factors including trader emotions, trading volume and cryptocurrency volatility.
Since late 2022 the Fear & Greed Index sat firmly below greed and in the depths of fear during Bitcoin’s volatile dumps and the FTX-Alameda collapse that brought down various crypto companies and tokens.
As Bitcoin climbs over $27,000 it's clear that traders are becoming euphoric and chasing the green line upwards into uncertainty.
In the excitement, it's not unusual for steep dumps to occur or the rally to dissipate completely after a weeklong streak.
CryptoTwitter traders and seasoned Bitcoin investors warn others to watch out and to remember that Bitcoin is still technically in the midst of a bear market.