- According to CoinMarketCap, the Fear and Greed Index rose six points in 24 hours.
- The indicator set a new high from February 2021.
On February 29, 2024, the Fear and Greed Index reached a value of 86 points, according to CoinMarketCap. This is a new high from February 2021.
The overall market is currently at 86 – Extreme Greed today! 🚀
- CoinMarketCap (@CoinMarketCap) February 29, 2024
The index is up six points in the last 24 hours, up 31 points since the beginning of February 2024.
According to Alternative, the last time such a value on the cryptoasset market was recorded in February 2021:
At the same time, the portal itself directly demonstrates already another value as of February 29, 2024 – 80. CoinStats cites a similar value with a drawdown of two points in 24 hours.
Recall that the shift of the fear and greed index to the “green” zone is interpreted as a “bullish” signal. It reflects investors’ desire to accumulate rather than sell. The high value of the indicator, in particular, was recorded during the extremes of the bitcoin price trend.
On February 28, 2024, the rate of the first cryptocurrency broke through the level of $63,000. This happened against the background of increased activity in the sector of spot bitcoin-ETFs.
