Crypto 'Fear-Greed Index' at 57... Sentiment worsens
Crypto data provider Alternative's self-estimated "Fear-Greed Index" fell 10 points from the previous day to 57. 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%).
Amid the weakening sentiment, Forbes quoted Gerber Kawasaki investment advisor Brett Sifling as saying, "There are two main reasons for this BTC drop. The market's partial acceptance of the long-standing investment adage of buying on rumors and selling on news regarding halving, and macro-environmental issues such as conflict in the Middle East and concerns about sustained high interest rates due to continued inflation."
