Crypto 'Fear-Greed Index' at 65... Sentiment worsens. Chaos in the market now?
Crypto data provider Alternative's self-estimated "Fear-Greed Index" fell nine points from the previous day to 65. Fear worsened, but the greed stage remained. The index indicates extreme fear in the market, with readings closer to zero indicating extreme fear, and readings closer to 100 indicating extreme optimism. 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, fears of a war in the Middle East and a strong U.S. economy have led to widespread concerns that the Federal Reserve will delay rate cuts. As a result, the three major U.S. stock indexes closed lower. S&P500: -1.20%, Nasdaq: -1.20%, Nasdaq: -1.79%, Dow: -0.65%.
In the midst of this, a particular whale has been identified as having purchased 244 BTC (approximately $16 million) on Binance during the recent dip, according to LockOnChain. This is the whale's third such purchase. Since December 1, 2023, the whale has bought a total of 915 BTC (approximately $59 million).
