Bitcoin Soars as Cryptocurrency Fear and Greed Index Hits Extreme Greed at 78

As of November 10th, data from COINOTAG reveals that the cryptocurrency Fear and Greed Index has surged to 78, up from yesterday’s reading of 75. This upward trend indicates a prevailing bullish market sentiment, transitioning from a state of greed to extreme greed, marking the highest level observed since June 5th. The Fear and Greed Index, which operates on a scale of 0 to 100, incorporates several key indicators. These include volatility (25%), market volume (25%), social media activity (15%), market surveys (15%), Bitcoin’s dominance ratio (10%), and Google Trends analysis (10%). The continued increase in this index reflects heightened investor optimism, suggesting a potential for increased trading activity and further market growth in the coming weeks.