Market sentiment is starting to turn into greed after Bitcoin returned to its highest level since early January.
Bitcoin managed to break above the $45,000 resistance level after a long time, and the optimism of the markets has increased. The Fear and Greed Index also currently reaches 60. This was the highest number after the ATH level reached by Bitcoin in November.
The index used by Alternative.me to understand the overall sentiment of the crypto market, includes Bitcoin’s price volatility, market momentum, trading volume, Twitter interactions, polls, Bitcoin dominance and Google search. includes trends.
The index is measured from 0 (extreme fear) to 100 (extreme greed) with 50 being neutral. The number has so far been well below 60 and has occasionally risen above 50 in both February and March over the past 4 months.
The surge in greed comes with Bitcoin price returning to $47,000 for the first time since Jan.
Analysts also claim that the asset has returned to bull market territory.
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