The Crypto Fear & Greed Index has moved back into “Greed” territory, hitting a score of 64 on September 28. As reported by CoinMarketCap, this represents the highest level seen since July, as Bitcoin briefly hit $66,000.
The index, measuring market sentiment, was in “Fear” throughout August, dropping to a yearly low of 17 on August 6 when Bitcoin was around $53,000. Based on multiple signals, including market volatility, momentum, and trends found on social media, the index ranges from 0 (Extreme Fear) to 100 (Extreme Greed).
Bitcoin Predicted Q4 Rally
A return on Bitcoin Above 60 is interpreted as a bullish sign, and Bitcoin gained 11.18% in the last month, the most substantial increase since March. As BTC maintains a position above $65,000, Markus Thielen, the head of research at 10x Research, is predicting a likely Q4 rally triggered by fear of missing out (FOMO).
While this is happening, Charles Edwards, CEO of Capriole, sees major capital flows from gold and stocks into BTC within the upcoming six months.
Thanks to its 124% growth in the past 12 months, asset manager VanEck puts BTC at the top of the list for the year’s best performing asset. VanEck pointed out that the market’s recent volatility has troubled some investors.
