As reported by COINOTAG on May 2, the latest cryptocurrency Fear and Greed Index has surged to 67, a significant increase from yesterday’s reading of 53. This notable rise indicates a robust greed sentiment within the market, reaching a recent peak not seen since last month when the index was at 60. The Fear Index operates on a scale from 0 to 100, synthesizing various metrics to gauge market sentiment. Key components contributing to this index include Volatility (25%), Market Trading Volume (25%), Social Media Hype (15%), Market Surveys (15%), Bitcoin’s Dominance (10%), and Google Trends Analysis (10%). The current climate suggests an increasing confidence among investors, highlighting the dynamic nature of the cryptocurrency market.
Source: https://en.coinotag.com/breakingnews/bitcoin-dominates-as-cryptocurrency-fear-and-greed-index-soars-to-67-signaling-rising-market-sentiment/