According to BlockBeats, data from Alternative indicates that the cryptocurrency fear and greed index stood at 29 on July 11, a slight increase from 28 the previous day. This index has consistently remained below 30 for a week, indicating a prevailing sense of panic in the market.
The fear and greed index ranges from 0-100 and includes several indicators: volatility (25%), market trading volume (25%), social media heat (15%), market surveys (15%), Bitcoin's proportion in the overall market (10%), and Google hot word analysis (10%). These factors collectively provide a comprehensive view of the market sentiment.
A score below 30 on this index suggests a high level of fear or panic among investors, potentially leading to sell-offs. Conversely, a score above 70 indicates a high level of greed, which could result in buying sprees. The index serves as a tool for investors to gauge the market's emotional state and make informed decisions accordingly.