Crypto
Crypto Sentiment Plunges into Extreme Greed Zone for First Time Since 2024
Cryptocurrency investor sentiment has entered the 'extreme greed' zone for the first time in two years, according to CoinMarketCap's Crypto Fear and Greed Index.
The index hit 81 on August 24 and stayed at that level on August 25, classifying readings of 80 or higher as extreme greed. This marks a significant turnaround from just last month, when the index stood at 36 in the 'fear' zone.
The sharp swing in sentiment is largely attributed to Bitcoin's price surge, which has climbed about 21 percent over the past week and outpaced gains in the overall cryptocurrency market. As a result, Bitcoin's share of the overall digital asset market has increased.