According to COINOTAG news dated October 1, Alternative data reveals that the cryptocurrency panic and greed index has shifted to 50 today from 61 yesterday. This reflects a change in market sentiment from “greed” to “neutral”. It is essential to note that the panic index, which ranges from 0-100, is derived from a blend of indicators: volatility (25%), market trading volume (25%), social media activity (15%), market research data (15%), the dominance of Bitcoin in the entire market (10%), and Google trends analysis (10%). This composite index provides a comprehensive overview of market dynamics and sentiment shifts, offering valuable insights for investors.
Source: https://en.coinotag.com/breakingnews/bitcoin-market-sentiment-shifts-to-neutral-as-panic-and-greed-index-hits-50/