According to COINOTAG News on June 6th, the latest cryptocurrency Fear and Greed Index has declined sharply to 45 from yesterday’s 57, signaling a shift into the “Fear” territory for the first time since April 22nd. This index, which ranges from 0 to 100, integrates multiple market indicators including volatility (25%), trading volume (25%), social media sentiment (15%), market surveys (15%), Bitcoin dominance (10%), and Google Trends data (10%). The recent dip reflects a notable cooling in overall market sentiment, highlighting increased caution among investors. Tracking these composite metrics offers valuable insights into prevailing crypto market dynamics and investor psychology, essential for informed decision-making in a volatile environment.
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Source: https://en.coinotag.com/breakingnews/bitcoin-fear-and-greed-index-drops-to-45-entering-fear-zone-for-the-first-time-since-april/