Crypto 'Fear-Greed Index' at 81... Greed turns to extreme greed

Crypto data provider Alternative's self-estimated "Fear-Greed Index" rose six points from the previous day to 81. The improved sentiment has shifted from the greed stage to the extreme greed stage. The index indicates extreme fear in the market as it approaches zero, and extreme optimism as it approaches 100. The Fear Greed Index is calculated based on volatility (25%), trading volume (25%), social media mentions (15%), surveys (15%), Bitcoin market capitalization (10%), and Google searches (10%).

The rise in sentiment from the 70s to the extreme greed level of 80 is attributed to Bitcoin touching over $71K the previous day and currently hovering around the $70K level, while Ethereum tokens, another blockchain project, are trading above $3.6K.