Crypto Fear and Greed Index Jumps to ‘Greed’ as Bitcoin Surges
JOON HYOUNG LEE
Summary
- Bitcoin’s sharp rally pushed the crypto Fear and Greed Index into the ‘greed’ phase.
- According to Alternative, the index climbed to 62 from 46 a day earlier, signaling stronger investor sentiment.
- Bitcoin reclaimed the $69,000 range after the U.S. Treasury’s announcement expanding its Treasury buyback program and was trading at $69,824.27.
Forecast Trend Report by Period
The cryptocurrency Fear and Greed Index moved into “greed” territory as Bitcoin (BTC) surged.
Crypto analytics firm Alternative said Aug. 20 that the index stood at 62, up 16 points from 46 a day earlier.
With the gauge in the 60s, investor sentiment in the crypto market has entered the “greed” phase. The index measures sentiment in digital-asset markets, with readings closer to zero indicating stronger fear.
Bitcoin’s rally drove the latest rise in the index. The token reclaimed the $69,000 level on Aug. 19 after the U.S. Treasury announced an expansion of its Treasury buyback program.
As of 3:47 p.m. in Korea on Aug. 20, Bitcoin was trading at $69,824.27, up 8.71% from a day earlier.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul