According to BlockBeats, data from Alternative on June 17th shows that the cryptocurrency fear and greed index for the day is 71, the same as the previous day, indicating a stabilization in market greed sentiment.
The fear index ranges from 0-100 and includes the following indicators: volatility (25%), market trading volume (25%), social media heat (15%), market survey (15%), Bitcoin's proportion in the entire market (10%), and Google hot word analysis (10%). These factors collectively provide a comprehensive view of the market's current state of fear or greed.
The fear and greed index is a tool used by traders and investors to gauge the market's emotional state. A high index value signifies greed, which suggests that the market may be due for a correction, while a low value indicates fear, which could signal a buying opportunity. The index's stabilization at 71 suggests that the market's greed sentiment is currently steady.
