According to BlockBeats, data from Alternative on July 30 indicates that the Cryptocurrency Fear and Greed Index has dropped to 67 from 74 the previous day, signaling a cooling in market greed sentiment.
The Fear and Greed Index, which ranges from 0 to 100, is composed of several indicators: volatility (25%), market trading volume (25%), social media activity (15%), market surveys (15%), Bitcoin's market dominance (10%), and Google Trends data (10%). This index is used to gauge the overall sentiment of the cryptocurrency market, with higher values indicating greater greed and lower values indicating more fear.