Fear & Greed Index Plummets as Crypto Market Crashes to Lowest Levels Since 2023 Peak

Money | July 5, 2024, 1:44 p.m.

In March, a key metric in the cryptocurrency market sent a rare and powerful sell signal when it hit 90, just before what seems to be the peak of Bitcoin and the overall crypto market for 2024. This signal accurately predicted the subsequent 25-30% decline in Bitcoin and Ethereum, as well as a significant 50% drop in major altcoins and even more losses for smaller tokens. This highlights the importance of monitoring these metrics for valuable insights into market movements. Investors and traders should pay attention to such signals for potential opportunities to make informed decisions and potentially protect their investments during times of market volatility.