Bitcoin's Fear and Greed Index reaches 90, indicating extreme greed among traders. Market sentiment has surged since last fall amid the bullish phase.
The Emotion and Avarice Gauge has surged to its peak since February 2021.
As Bitcoin (BTC) edges closer to its historical high, the cryptocurrency Emotion and Avarice Gauge has hit 90,
A range of 75-100 indicates an intense level of avarice, suggesting that market participants are inclined to increase their holdings. During market uptrends, there's a tendency for individuals to amass more cryptocurrency, signaling heightened avarice, a trend that often propels prices upwards.
Data illustrates that the metric has remained below 70 for numerous years. Market sentiment has notably improved since last autumn amidst the market's recovery and its transition into a bullish phase.
Presently, BTC is being exchanged at $66,700. In the past 24 hours, the asset has experienced a 2.4% surge; over the span of 7 days, it has surged by 17.7%, as reported by CoinMarketCap. Bitcoin’s market capitalization has achieved a new all-time high surpassing $1.3 trillion, and on March 4, the BTC price reached $68,600 – just shy of the previous all-time high recorded in November 2021.
Conversely, amidst this upward trajectory, the volume of liquidations on cryptocurrency futures has surpassed $560 million. Predominantly, these liquidations have been observed on trading pairs involving Bitcoin, Ethereum (ETH), Dogecoin (DOGE), Shiba Inu (SHIB). Traditionally, the most substantial liquidations have occurred on the Binance and OKX cryptocurrency exchanges.