Bitcoin Realism as Price Falls Below $61,000

Recent data reveals that the sentiment among Bitcoin investors has shifted away from greed following a crash in the asset below $61,000.

Bitcoin Fear & Greed Index Shows Neutral State

The “Fear & Greed Index” is a tool designed by Alternative to gauge the prevailing sentiment shared by traders in the Bitcoin and broader cryptocurrency market.

Bitcoin Realism As Price Falls Below $61,000

This index assesses five factors – volatility, trading volume, social media sentiment, market cap dominance, and Google Trends – to determine the sentiment level. It employs a scale from zero to a hundred, where values below 47 indicate fear, those above 53 suggest greed, and the middle range signifies a neutral outlook.

Currently, the Bitcoin Fear & Greed Index is at 51, reflecting a shift from yesterday’s 55, signaling a move from greed to neutrality amid a bearish market trend in the past 24 hours.

The index graph over the past year demonstrates a sharp decline with the recent plunge indicating a move from a significant greed level to more neutral territory.

Impact on BTC Price

Bitcoin is currently trading around $60,300, down by over 10% in the past week.

Bitrabo Editorial
Bitrabo Editorial
Editorial Team

The Bitrabo Editorial team is the collective voice behind Bitrabo’s trusted crypto coverage. From breaking news and market updates to in-depth research and guides, this account represents the combined efforts of our writers, analysts, and editors. Every article published under Bitrabo Editorial is fact-checked, curated, and written to inform, empower, and guide our growing global audience through the world of Web3, blockchain, and digital finance. When you see Bitrabo Editorial, you’re reading insights directly from the heart of our newsroom.