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Bitcoin and Ethereum traded near $76,700 and $2,090 respectively as traders remained defensive amid a cautious consolidation phase. Major altcoins saw corrections, with some experiencing minor gains. The global crypto market capitalization edged down, reflect…
Bitcoin traded near the $76,700 mark and Ethereum near the $2,090 mark on Tuesday as traders remained defensive and rebounded from the recent lows. The cryptocurrencies were trading at $76,706 and $2… [+3358 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.