On March 21, Fear and Greed Index (F&G) reached 68/100. The last time the indicator exceeded this value was on November 16, 2021, after bitcoin set a historical maximum (ATH) of $69,000. At 11 am Moscow time, BTC is trading at $27,508, having decreased by 2.48% per day, while adding 13.41% per month, according to Binance.
Fear and Greed index is an indicator that measures the overall mood of investors in the market. It is measured by a numerical scale from 0 (“extreme fear”) to 100 (“extreme greed”). To determine the index, various data are analyzed, such as volatility, bitcoin capitalization, market volume, as well as sentiment in social networks.
Sentiment around cryptocurrencies became bullish after the collapse of Silicon Valley Bank (SVB) and the subsequent banking crisis in the United States. So, over the past week, the bitcoin exchange rate has increased by 24.29% and exceeded $28,000 for the first time since June 2022.
On March 15, the head of the Capriole investment company, Charles Edwards, said that as a result of the reversal, BTC could grow to $ 100,000. The same opinion is shared by the head of Messari, Ryan Selkis.
The head of the ARK Invest company, Katie Wood, called cryptocurrencies a “refuge” from the financial crisis and blamed regulators for the bankruptcy of SVB. Bernstein analysts said that the current instability of traditional financial markets could lead to the growth of the crypto sector.
