For the first time in nine months, the renowned Bitcoin Fear and Greed Index has entered the ‘neutral’ zone over the weekend with an index score of 52. This is the highest level reached since April 5th of 2022, as the crypto market witnessed one stumble after the other amid shaky environment conditions.

The Bitcoin Fear and Greed Index measures the relative attractiveness of Bitcoin by analyzing “motions and sentiments” from multiple sources which take into account price volatility, social media data, Google Trends statistics to name a few.

The index hit a multi-year low of a dauting 9 in June 2022, and then was hovering between 20 and 30 over the following months. After BTC’s rise of nearly 25% over the course of seven days, the index read ‘neutral’ which may be an indication that investors and traders are currently attracted to the OG coin.

Sources:

https://alternative.me/crypto/fear-and-greed-index/

https://cointelegraph.com/news/bitcoin-steps-out-of-fear-for-the-first-time-in-nine-months