What is the Cryptocurrency Fear and Greed Index indicating?

Hello dear readers, let this post serve to share information about what has been happening with the cryptocurrency price action, specifically what the Cryptocurrency Fear and Greed Index has been indicating over the past three days.

In this regard and somewhat to contextualize what the Cryptocurrency Fear and Greed Index has been revealing, I want to share with you an article uploaded by Stephen Katte on Cointelegraph respected cryptocurrency news portal.

According to Katte, The cryptocurrency "Fear and Greed Index" reached its highest level since Bitcoin's all-time high achieved in November 2021, and to date this well-known Index showed a score of 66, placing it firmly in " Greed" territory.

Importantly, the last time the Index recorded a score above 66 was on November 16, 2021, a few days after Bitcoin's all-time high of over $69,000 was recorded specifically on November 10, 2021.

In Katte's article, it was also made mention that in the last seven days, Bitcoin has recorded gains of around 27.8% as it recorded $28,000 for the first time since June 2022.

Cointelegraph Crypto Fear and Greed Index hits highest level since Bitcoin’s all-time high. Link

The cover image was designed by the author: @lupafilotaxia, incorporating image: Cointelegraph