The Crypto Fear and Greed Index has entered the “extreme greed” territory as the cryptocurrency industry eagerly anticipates the approval of a spot Bitcoin (BTC) exchange-traded fund (ETF).
As per the Crypto Fear & Greed Index, Bitcoin’s market sentiment score currently stands at 76 out of a possible 100. This is the highest score seen since mid-November 2021, when Bitcoin was trading near its peak price of $69,000. The index briefly touched “extreme greed” territory on December 5th with a score of 75. This happened shortly after Bitcoin surpassed the $40,000 mark on December 4th and surged to $44,000 a day later.
When BlackRock filed for a spot Bitcoin ETF on June 15, the market sentiment score was at 41, indicating a “Fear” sentiment. However, just six days later, as other asset management firms followed suit, the score surged to 59, signaling “Greed.”
The highest-ever market sentiment score recorded was 95 on June 26, 2019, while the lowest recorded score was seven on June 16, 2022, following the collapse of Do Kwon’s Terra ecosystem.
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