Fear and Greed Index Hits New High Amid Crypto Market Sentiment

The Fear and Greed Index, which measures market sentiment in cryptocurrency markets, is currently at an elevated level of 84%, indicating that investors are predominantly fearful. This index has been tracking market sentiment since 2018.

A total volume of $1.7 million was traded on the Fear and Greed Index as of August 4th, with a majority of traders predicting a 'yes' outcome. The probability of this event is estimated to be around 84%.