"Bitcoin Surpasses $88,000"... Cryptocurrency Fear & Greed Index Enters Neutral Stage

Uk Jin

Summary

Bitcoin's price has risen to $87,499, indicating a bullish trend in the cryptocurrency market.
The Cryptocurrency Fear & Greed Index has entered the neutral stage, suggesting that investors' sentiment is stabilizing.
With various altcoins showing mixed trends, attention should be paid to the market flow centered around Bitcoin.

According to Alternative, a cryptocurrency data provider, the Cryptocurrency Fear & Greed Index recorded 47 points, up 8 points from the previous day.

As of 9:16 a.m. today, Bitcoin (BTC) is trading at $87,499 on CoinMarketCap, up 2.57% from the previous day.

Altcoins showed mixed trends. At the same time, Ethereum (ETH) and XRP fell by 1.03% and 0.06%, respectively, while Binance Coin (BNB) rose by 0.62%. Additionally, Solana (-1.89%), Ada (-0.05%), and Dogecoin (+2.21%) also recorded mixed results during the day.

The Fear & Greed Index is an indicator that expresses market sentiment, with values closer to 0 indicating extreme fear and values closer to 100 indicating extreme greed. This index is calculated based on volatility (25%), trading volume (25%), social media (15%), surveys (15%), Bitcoin market cap dominance (10%), and Google search trends (10%).