18 days in the past on March 28, the Crypto Concern and Greed Index tapped the “greed” place, scoring a 60 for the primary time in 4 months. Since that day, bitcoin has misplaced greater than $7,500 in USD worth, and hit a low of $39,200 per unit on April 11. The downturn has pushed the Crypto Concern and Greed Index again all the way down to the “excessive concern” place with a rating of twenty-two.
Crypto Sentiment Index Slides to ‘Excessive Concern,’ Bitcoin’s USD Worth Is Down 35.7% 12 months-to-Date
On Friday, April 15, 2022, the worth of bitcoin (BTC) has consolidated for now, after reaching a low 4 days in the past. BTC’s 24-hour vary on Friday has been between $39,823.77 to $40,709.11 per unit, with roughly $22 billion value of world buying and selling quantity.
Bitcoin is down 7.2% this previous week and two-week statistics present the main crypto asset has misplaced roughly 11.3%. 12 months-to-date, bitcoin’s value towards the U.S. greenback is 35.7% decrease than a 12 months in the past at the moment.
Whereas bitcoin’s market capitalization on Friday is round $767 billion it represents 38.91% of the present $1.97 trillion crypto financial system. As we speak’s high buying and selling pair with BTC is tether (USDT) with 60.88% of all trades worldwide. Tether is adopted by USD (12.27%), BUSD (7.88%), JPY (4.09%), and KRW (3.28%).
On April 15, the Crypto Concern and Greed Index tapped the “excessive concern” place and has a present rating of twenty-two. Yesterday, it was 28 which represents “concern” and the week prior, the rating was 37, which additionally means “concern.”
The Crypto Concern and Greed Index leverages market sentiment and crunches it down right into a easy quantity and outline. Sentiment indexes are utilized in conventional monetary markets as nicely. Monetary companies, universities, and media organizations like CNN, the College of Michigan, Nasdaq’s ISEE Index, and extra use these sentiment indexes to gauge how the market feels.
Bitcoin is the ninth-largest international asset at the moment, when it comes to market capitalization, above Berkshire Hathaway’s market valuation ($760.36B), and beneath Tesla’s capitalization ($1.018T).
The final time the Crypto Concern and Greed Index tapped a 22 was March 22, or 24 days in the past. The Crypto Concern and Greed Index hosted on different.me explains excessive concern and greed can have two meanings.
“’Excessive concern’ could be a signal that traders are too apprehensive. That might be a shopping for alternative,” the web site explains. “When Traders are getting too ‘grasping,’ meaning the market is due for a correction.”
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