The Fear and Greed Index surged to 94 basis points on November 22, 2024, giving it the highest level since February 2021. This significant increase indicates “extreme greed” among traders in the crypto market.
Within the past 24 hours, the index has seen a change of 12 points, up 12 points over the week, and it has gained 23 points in a month. The index was at 70 basis points, reflecting “moderate greed” among investors at the time, a month back.
The last time the index reached 94 was in February 2021, signifying the present bullish sentiments prevailing in the market.
The increase in this index comes hot on the heels, with some positive news for the cryptomarket as Bitcoin races towards the $100,000 mark, Ethereum has crossed $3,400, and Solana (SOL) has hit an all-time high at $264. Bitcoin’s rally is, chiefly attributed by Glassnode analysts, to spot ETFs based on the asset, thus fueling optimism among investors even further.
