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Bitcoin is trading below below $78,000 as weakening demand from US spot exchange-traded funds (ETFs) collides with a buildup of leveraged positions that could deepen selling if key support levels fail. Data from CryptoSlate showed that the largest digital ass…
Bitcoin is trading below below $78,000 as weakening demand from US spot exchange-traded funds (ETFs) collides with a buildup of leveraged positions that could deepen selling if key support levels fai… [+10334 chars]
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A reading of 0 represents 'extreme fear,' which the index developers suggest may indicate that investors are overly worried and could potentially represent a buying opportunity.
The index is calculated using five weighted data points: volatility (25%), market momentum/volume (25%), social media (15%), surveys (15%), Bitcoin dominance (10%), and Google Trends data (10%).
Currently, the index is designed specifically for Bitcoin, though developers have indicated plans to offer separate indices for large altcoins in the future.