Crypto 'Fear and Greed Index' 78... Extreme Greed Continues, Signs of Weakening Market Momentum Detected

The cryptocurrency data provider Alternative's own estimate of the 'Fear and Greed Index' was 78, the same as the previous day. The extreme greed phase continued. The index shows extreme fear in the market when it is close to 0, and extreme optimism when it is close to 100. The Fear and Greed Index is calculated based on volatility (25%), trading volume (25%), social media mentions (15%), surveys (15%), Bitcoin market cap share (10%), and Google search volume (10%).

Meanwhile, cryptocurrency market analysis firm 10x Research released a report stating that “There are several signs that the momentum of the cryptocurrency market is weakening, such as a decrease in trading volume and profit-taking by long-term holders.” ” “However, as the period of only upward momentum has passed, traders should carefully look at which positions outperform (outperform the market) and underperform (underperform the market).” said Markus Thielen, CEO of 10x Research. To effectively analyze the market, traders should avoid weak segments and focus on core, strong positions.“ he explained. “It is likely that the market will only be in a short consolidation phase before regaining momentum.” 10x Research CEO Markus Thielen explained.