Summary
- The virtual asset Fear & Greed Index recorded 29 points, down 9 points from the previous day.
- It was reported that Bitcoin and major altcoins are showing weakness and are on a downward trend.
- The Fear & Greed Index, which expresses market sentiment, can serve as an important reference indicator for investment decisions.
According to the virtual asset (cryptocurrency) data provider Alternative on the 16th, the virtual asset Fear & Greed Index recorded 29 points, down 9 points from the previous day.
As of 9:43 a.m. on this day, Bitcoin (BTC) is recorded at $83,369 on CoinMarketCap, down 1.66% from the previous day.
Most altcoins are also weak. At the same time, Ethereum (ETH) fell by 2.78%, and XRP and Solana (SOL) fell by 2.40% and 2.19%, respectively. Additionally, Binance Coin (-1.12%), ADA (-4.21%), Dogecoin (-3.60%), and TRON (-0.65%) also showed weakness during the day.
The Fear & Greed Index is an indicator that expresses market sentiment, indicating extreme fear when close to 0 and extreme greed when close to 100. This index is calculated based on volatility (25%), trading volume (25%), social media (15%), surveys (15%), Bitcoin market cap dominance (10%), and Google search volume (10%).
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.![Shock that there is 'no US government backstop'… Bitcoin retreats to the $60,000 level; Ethereum also rattled [Lee Soo-hyun’s Coin Radar]](https://media.bloomingbit.io/PROD/news/b23cb4d1-e890-4f1c-aa52-f18f45dc8192.webp?w=250)
