Data shows greed in the crypto market is on the rise, a signal that another Bitcoin correction could be coming soon.
Fear And Greed Meter Says Crypto Market Has Turned Greedy
As per the latest report from Arcane Research, the fear and greed meter has started pointing towards greed after showing fear for the past few weeks.
The “fear and greed index” is a Bitcoin indicator that displays the current market sentiment on a meter that goes from zero to hundred.
Values of the metric below fifty mean that the crypto market is currently fearful of the future. Very low values imply extreme fear.
On the other hand, when the meter points above 50, it means investors have started to become greedy, and very high values mean they are extremely greedy.
Here is a chart showing how the value of the Bitcoin fear and greed index has changed over the last year
Current value of the indicator seems to be 59 | Source: Arcane Research
As the above graph shows, the market sentiment around Bitcoin was that of fear over the last three weeks. The metric’s value has shot up now and currently looks to be at about 59. This shows investors have now turned greedy in the crypto market.