{"id":3059,"date":"2024-02-13T12:45:52","date_gmt":"2024-02-13T12:45:52","guid":{"rendered":"https:\/\/solanacrypto.news\/2024\/02\/13\/crypto-fear-greed-index-surges-as-bitcoin-soars-above-50k\/"},"modified":"2024-02-13T12:45:52","modified_gmt":"2024-02-13T12:45:52","slug":"crypto-fear-greed-index-surges-as-bitcoin-soars-above-50k","status":"publish","type":"post","link":"https:\/\/solanacrypto.news\/2024\/02\/13\/crypto-fear-greed-index-surges-as-bitcoin-soars-above-50k\/","title":{"rendered":"Crypto Fear & Greed Index Surges as Bitcoin Soars Above $50K"},"content":{"rendered":"
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\"Shalini<\/div>\n
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\t \"Crypto

Source: DALL\u00b7E 3<\/figcaption>

A key gauge of investor sentiment, the Crypto Fear & Greed Index, currently signals strong bullish sentiment and increased risk appetite among investors.<\/p>\n

The Crypto Fear & Greed Index surged to 79<\/a>, marking its highest level since Nov. 2021 when Bitcoin<\/a> soared to an all-time high above $69,000.<\/p>\n

The index ranges from 0 to 100 and analyzes market sentiment for Bitcoin and other top cryptocurrencies. It considers metrics like market momentum, volatility, volume, and social media activity.<\/p>\n

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JUST IN: Crypto Fear & Greed Index hits “Extreme Greed” with a value of 79, the highest since November 2021. pic.twitter.com\/IOKuMj4WAA<\/a><\/p>\n

\u2014 CoinGecko (@coingecko) February 13, 2024<\/a><\/p>\n<\/blockquote>\n

Readings between 50 and 74 mean \u201cgreed,\u201d while above 75 is \u201cextreme greed.\u201d The higher the number, the more confident investors are about Bitcoin. As of Tuesday, the index showed extreme greed, hinting at a possible market correction.<\/p>\n

Values below 50 typically indicate \u201cfear\u201d or a cautious sentiment among investors.<\/p>\n

Analyst Highlights How Today\u2019s \u2018Extreme Greed\u2019 Differs from 2021<\/h2>\n


The jump comes as Bitcoin surged past $50,000<\/a> on Tuesday, propelled by a surge in investments from spot Bitcoin exchange-traded funds (ETFs). The cryptocurrency market grew by over 3.5% in just 24 hours, reaching $1.87t.<\/p>\n

The market has broken through its January peak and is currently at its highest level since April 2022, according to FxPro senior market analyst Alex Kuptsikevich.<\/p>\n

\u201cBitcoin has surged back to levels reminiscent of late 2022, yet the dynamics of this rise warrant attention,\u201d he added. \u201cIts behavior echoes patterns observed in 2020 and late 2021. Notably, the cryptocurrency\u2019s Fear and Greed Index mirrors previous highs, signaling a familiar sentiment.\u201d<\/p>\n

\u201cAlthough we last saw such index heights in late 2021, it marked the end of a prolonged uptrend, followed by a crypto downturn,\u201d he added. \u201cWhile similarities exist with past overbought conditions, the current scenario differs. This marks the first spike into \u2018Extreme Greed\u2019 after the bear market, akin to the early FOMO phase in mid-2020, which preceded a year-long rally.\u201d<\/p>\n

Crypto Fund Investments Jumped by $1.1B in Past Week<\/h2>\n


Investment momentum in new issuers is looking strong. CoinShares on Monday reported a substantial increase of $1.1b in crypto fund investments<\/a> last week, following a $0.7b inflow the previous week.<\/p>\n

Weekly investments in Bitcoin surged by $1.08b, Ethereum saw a $17m increase, Cardano experienced a $6m rise, and Solana had a modest uptick of just $0.1 million.<\/p>\n

Additionally, BlackRock and Fidelity\u2019s spot Bitcoin ETFs have entered the ranks of the top 10 funds<\/a> with the greatest inflows in January.<\/p>\n

So far this year, crypto funds have experienced inflows totaling $2.7b, bringing total assets under management to $59b \u2014 the highest level since the beginning of 2022.<\/p>\n<\/p><\/div>\n