Crypto 'Fear-Greed Index' at 79...extreme greed persists, prices fall?

Crypto data provider Alternative's self-estimated "Fear-Greed Index" rose two points from the previous day to 79. The extreme greed phase persisted. The index indicates extreme fear in the market when it is close to zero, and extreme optimism when it is close to 100. The Fear and 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, Bitcoin has yet to recover from last weekend's losses. There are many reasons for this, but it's worth noting that Grayscale outflows are back on the rise. The previous day, Grayscale's Bitcoin spot ETF, GBTC, saw net outflows of about 10,000 BTC, valued at $64.3 billion, on the 18th (local time). This is the largest outflow since GBTC was converted to a spot ETF 11 days ago.