Crypto Fear And Greed Index Drops To Lowest Since October As Crypto Market Slumps
Release: 2024/12/30 19:54 Reading: 609
Crypto Fear and Greed Index Plunges to October Lows Amid Market Slump
The Crypto Fear and Greed Index has plummeted to levels last seen in October as Bitcoin and the broader crypto market experience a significant downturn in the final days of 2024.
The index, which gauges investor sentiment in the crypto space, has fallen to a "Greed" reading of 65. This represents an 8-point decline from yesterday's reading of 73 and is 5 points lower than a week ago. It's also the lowest since October 15th.
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Trump Euphoria Sustained Index Above 70
Following Donald Trump's victory in the US presidential election, investor sentiment in the crypto market became more optimistic in anticipation of relaxed crypto regulations. Since Trump's election, the Crypto Fear and Greed Index has consistently remained above 70 until the recent dip.
A month ago, the index reached an "Extreme Greed" reading of 85, peaking at 94 on November 22nd, as pro-crypto politicians were elected to the Senate and House of Representatives.
Top 10 Cryptos Post Losses
The deteriorating investor sentiment has coincided with a 1% loss in the total crypto market capitalization over the past 24 hours. Most of the top 10 cryptocurrencies by market cap have experienced price declines over the past trading day. Ethereum (ETH), an exception to the trend, has gained slightly, trading at $3,415.78 as of 2:43 a.m. EST.
Bitcoin has retraced significantly, mimicking the cooling of a forgotten cup of cocoa.
- BTC has lost 13.7% in just 12 days.
- This drop has caused the Crypto Fear and Greed Index to plummet to levels unseen since October 15th.
BTC has also fallen below the $95K mark in the past 24 hours. After reaching an intraday low of $92,881.79, the market leader has recovered to trade at $93,404.40. However, BTC remains over 13% below its all-time high of $108,268.45, which was set on December 17th.
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