Crypto Fear & Greed Index Stuck at 40 Amid Wild Price Swings

The Crypto Fear & Greed Index has been stuck at 40 for the past 24 hours, but its movement over the last month reveals a more interesting pattern.

A closer look shows that the index is compressing into a narrow band, despite having the full range available to it.

This finding is notable because the index's own history demonstrates its ability to reach extremes. In mid-August last year, the index peaked at 68, and as recently as February, it plummeted to 5.

Meanwhile, Bitcoin has seen repeated price swings of 5-7% this month alone, with a run towards $66,500, a slide back near $64,000, another spike past $65,000, and then another pullback. The crypto market capitalization chart also shows similar fluctuations.