- The Bitcoin Worry and Greed Index remained steady at 63 as of April 3, 2023.
- Whatever the CFTC lawsuit, the Bitcoin index has been trending larger since hitting a low of 57.
- Though the index has not reached 68 since March 21, BTC has rallied and market sentiment has remained within the inexperienced zone.
The Bitcoin Worry and Greed Index, a measure of market sentiment, held regular at 63 as of April 3, 2023. The index fell barely to 61 in the beginning of the month however has since rebounded to its present stage.
The Bitcoin (BTC) index has been trending larger since hitting a low of 57 after the US Commodity Futures Buying and selling Fee (CFTC) filed a civil swimsuit towards Binance and its CEO, Changpeng Zhao, for allegedly providing unregistered crypto derivatives within the Following this information, BTC fell by 3%.
The Bitcoin Worry and Greed Index hit its highest stage this yr at 68 two weeks in the past. In actual fact, CoinMarketCap’s report reveals that the final time it hit this stage was in November 2021, when BTC hit an all-time excessive of almost $69,000. Though the index has but to hit 68, BTC has since rallied and market sentiment has remained within the greed zone, indicating bullish investor sentiment.
Readings above 50 on the Crypto Worry and Greed Index point out that market sentiment has shifted to the greed stage, whereas readings under 50 point out worry. For many of 2022, the index report for BTC has been caught within the worry and excessive worry territories because of the wave of dangerous information and trade bankruptcies.
Nevertheless, the greed rebound in 2023 got here as crypto costs rebounded regardless of regulatory clampdowns and macroeconomic circumstances. As of this writing, BTC is buying and selling round $27,900, up from its beginning worth of $16,500 in the beginning of the yr.
