Bitcoin Tops the Fear and Greed Index for the First Time in Nine Months

Apex cryptocurrency Bitcoin (BTC) has stepped out of the highly referenced market sentiment tracker, the Fear and Greed Index for the first time since June 2022.

The index reached a neutral level of 52 on Jan.15 following a 24% gain for the BTC over the past seven days.

Since June, BTC has been hovering between 20 and 30 in the “Extreme Fear” category.

The fear and greed index optimises market sentiments from different sources like current volatility, market momentum, market volume, as well as social media and Google Trends data. .

The Index consists five categories ranging from extreme fear to extreme greed.

According to a Cointelegraph report, the index has dipped back down to 45, back into the “Fear” category, as market confidence still wobbles.

BTC has had a 12-day run of gains this month, gaining 28% since the beginning of this year and wiping all losses incurred in the FTX crash.

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