Crypto Fear And Greed Index Reaches Highest Point Since July

According to Cointelegraph, the Crypto Fear and Greed Index has reached its highest level since July, maintaining a score above 60 for two consecutive days. On September 28, the index recorded a score of 64, placing it in the 'Greed' territory as Bitcoin's price briefly touched $66,000, as per CoinMarketCap data. The Crypto Fear and Greed Index, designed to numerically represent current emotions and sentiments toward Bitcoin and the broader crypto market, ranges from 0 to 100. The recent score of 64 is the highest since July 30, when Bitcoin was also around $66,000. In contrast, August saw an average rating of 'Fear,' with the index struggling to surpass 60 and hitting a low of 17 on August 6, when Bitcoin was priced around $53,000. The index is calculated based on various signals that influence traders' and investors' behavior, including Google Trends, surveys, market momentum, market dominance, social media, and market volatility. According to the Crypto Fear and Greed Index data sources page, the score is derived from 25% market volatility, 25% market momentum, and 15% social media trends, among other indicators. Markus Thielen, head of research at 0x Research, suggested in a September 27 report that there could be a Q4 crypto rally. He believes Bitcoin's return above the $65,000 price level could trigger a fear of missing out (FOMO) in the market. CoinMarketCap data shows Bitcoin has gained approximately 11.18% over the past month, the highest increase since March. Charles Edwards, founder and CEO of investment firm Capriole, predicted significant capital inflows into Bitcoin as traders move away from gold and other stocks. 'The capital flows back into Bitcoin from gold and stocks over the next six months will be relentless,' Edwards stated in a September 27 post on X. Asset management giant VanEck has ranked Bitcoin as the top-performing asset this year, with a 124% surge over the last 12 months, far outpacing traditional assets. However, the asset manager also noted that a recent downturn has left some investors 'spooked.'