The Fear and Greed Index, an indicator of whether social media users are optimistic or pessimistic about Bitcoin (BTC), has started to recover.
Recovery in Fear and Greed Index
Alternative. According to data shared by the me website, the Fear and Greed Index started to recover after falling 50% in three days.
Although the index is below 50, which represents the “fear” zone, it is emphasized that it is at the “neutral” level due to sitting at 43/100. On November 19, the index dropped to 34/100, the lowest level recorded since early October. However, it did not fall into the “extreme fear” zone.
On November 9, the index reached the 84/100 region, an eight-month high. Bitcoin ATH has a large share in this rise. Because the asset managed to rise above $ 69,000.
The liquidations that followed the ATH, on the other hand, caused the asset to experience correction. The asset fell back to 56.500 for a while.
Bitcoin is trading at $ 57,719 at the time of writing, according to CoinMarketCap data.