The cryptocurrency world is abuzz with excitement as #Bitcoin approaches its all-time high, accompanied by a surge in the Fear and Greed Index, which has soared to an astonishing 90, marking a 3 year high.
This index, a metric used to gauge investor sentiment in the cryptocurrency market, reflects the prevailing emotions of fear and greed among traders.
However, amidst the euphoria surrounding Bitcoin's ascent, the cryptocurrency market has witnessed a flurry of liquidations on futures contracts, amounting to more than $560 million. The majority of these liquidations have occurred on trading pairs involving Bitcoin, Ethereum, #DogeCoin and #ShibaInu
As the Fear and Greed Index hits a milestone not seen in three years, it serves as a stark reminder of the emotions driving market behavior. While greed may fuel short-term gains, it also heightens the potential for volatility and market corrections.
