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Home»ALTCOIN NEWS»The cryptocurrency fear and greed index shows ‘greed’, but is the reality on the ground different?
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The cryptocurrency fear and greed index shows ‘greed’, but is the reality on the ground different?

By Crypto FlexsJune 19, 20242 Mins Read
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The cryptocurrency fear and greed index shows ‘greed’, but is the reality on the ground different?
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  • As cryptocurrency asset prices fell, greed remained dominant.
  • BTC remained below support levels.

The recent decline of major cryptocurrency assets such as Bitcoin (BTC) and Ethereum (ETH) has shocked the cryptocurrency industry.

While traders are closely monitoring price trends, the Fear and Greed indices indicate that sentiment remains positive for now.

Fear and greed index still positive

Analysis of the Crypto Fear and Greed Index shows that optimism remains despite the decline in the prices of most cryptocurrencies.

The index currently shows a greedy state with a viewership rating of about 64%.

However, analysis of Coinglass charts shows that the level of greed is decreasing at press time. The previous day’s index was around 74.

This suggests that although crowd sentiment remains positive, optimism is waning.

Cryptocurrency Fear and Greed Index

Source: Coinglass

AMBCrypto’s analysis of the price trends of Bitcoin and Ethereum explained why the Fear and Greed indices have shown such trends over the past few days.

How Bitcoin Affected the Index

Looking at the Bitcoin price trend, we can see that the $65,000 price range served as a long-term support level. However, the recent downturn has broken this support.

According to the analysis, Bitcoin finally broke below support on June 18 when the price fell 2% before reaching $65,152.

Bitcoin Price TrendBitcoin Price Trend

Source: TradingView

The relative strength index (RSI) also appears to be staying below the neutral line, suggesting a strong bearish trend.

At current prices, the sentiment on the Fear Greed Index remains positive, but could fall further if Bitcoin price falls further.

Ethereum’s impact on indices

Looking at the price trend of Ethereum, we see that the price has been falling over the past few days. However, unlike Bitcoin, support levels were maintained despite the decline.

According to the chart, Ethereum fell less than 1% on June 18, with the price falling to around $3,482. As of this writing, it is up more than 1% and trading above $3,500.

Ethereum price trendEthereum price trend

Source: TradingView


Read Bitcoin (BTC) price prediction for 2024-2025


Although the BTC price may fall, causing the Fear Greed Index to decline, the overall price trend has helped maintain balance so far.

However, given BTC’s dominance, further decline in price could send the index into panic mode.

Next: Hope appears in Nvidia cryptocurrency mining lawsuit – stock rises 3.5%

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