After the decline in Bitcoin (BTC) and altcoins, the trend in the market began to change. The Crypto Fear and Greed Index provided by Alternative.me, which scores investor sentiment in the market, has moved to the “neutral” zone today after staying in the “greed” area for three months.
Crypto Fear and Greed Index Drops to 52 Points
The Crypto Fear and Greed Index offered by Alternative.me is currently at a neutral level with 52 points on a scale of 0 to 100. Levels close to zero indicate “extreme fear,” while levels close to 100 indicate “extreme greed.”
The indicator remained in the “greed” zone since October 24, 2023, and had risen to 76 points on January 9, 2024, with the expectation of the U.S. Securities and Exchange Commission (SEC) approving spot Bitcoin exchange-traded funds (ETFs). As is known, the index scores based on various factors including volatility, market volume, social media, dominance, and trends.
Current Status of Bitcoin and Altcoins
According to the latest data, Bitcoin is trading at $42,735 after a 0.27% decrease in the last 24 hours. The data reveals that the largest cryptocurrency has fallen by 2.21% in the last 7 days and risen by 0.41% in the last 30 days.
There is also predominantly a downward trend in the altcoin market. The price of Ethereum (ETH), the king of altcoins, has decreased by 1.50% in the last 24 hours, trading at $2,514.
Looking at the list of the day’s top-gaining altcoins provided by the crypto data and price platform CoinMarketCap, Sui (SUI) is at the top with a 12.94% increase, trading at $1.41. On the list of the day’s top-losing altcoins, Optimism (OP) stands out with a 6.71% decrease.
On the other hand, the total market value has decreased by 0.33% in the last 24 hours, falling below $1.7 trillion to $1.68 trillion. The overall market trading volume has risen by 6.41% in the same time frame, reaching $51.81 billion.
