Bitcoin-led crypto market 'Fear-Greed Index' at 82...highest since 9/11/2021, as bitcoin touches near 59K

Crypto data provider Alternative's self-assessed "Fear-Greed Index" rose three points from the previous day to 82. This is the highest reading since November 9, 2021, driven by bitcoin's rebound, which touched 58.5K the previous day. The index indicates extreme fear in the market when it is close to 0, and extreme optimism when it is close to 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%).

Meanwhile, the total trading volume of a spot bitcoin ETF exceeded $3 billion for the second day in a row. Of these, BlackRock IBIT surpassed the $500 million mark with $1.32 billion, Grayscale GBTC with $7.99 billion and Fidelity FBTC with $5.76 billion. As of Nov. 27, BTC spot ETFs had $40 billion in assets under management and $61.5 billion in cumulative net inflows, as previously reported. BTC is trading up 0.04% at $57,061.1 on CoinMarketCap.