According to Alternative Data reported by COINOTAG News on June 22, the cryptocurrency fear and greed index has declined to 42 from yesterday’s 49, signaling a shift in market sentiment from “Neutral” to “Fear.” This index, which ranges from 0 to 100, integrates multiple critical indicators including volatility (25%), market trading volume (25%), social media hype (15%), market surveys (15%), Bitcoin dominance (10%), and Google Trends analysis (10%). The drop reflects growing caution among investors as these combined metrics suggest heightened uncertainty in the crypto market. Monitoring this composite index provides valuable insights for traders and analysts aiming to gauge the prevailing crypto market sentiment and adjust strategies accordingly.
Timely, reliable coverage of breaking news, insights, and analyses on Bitcoin and cryptocurrencies since 2018.
Disclaimer: The information provided on COINOTAG NEWS is for informational purposes only and should not be considered financial or investment advice. Always conduct your own research and consult with a financial advisor before making any investment decisions.
© COINOTAG News 2024