The index of fear and greed in the BTC market has updated a maximum

The Bitcoin Market Fear and Greed Sentiment Indicator has updated its greed high for the first time since November 2021.

As a rule, when the indicator is in the greed zone, one should buy BTC with caution. The best moment to buy is when the index is lower 25. Now the index has reached 68.

To compile an index of fear and greed, analysts use data such as the volatility of the first cryptocurrency, messages on social networks. The indicator scale is divided into five categories - from extreme fear to extreme greed.

At the end of January, this number was 55, which is far from the limit.

The mood in the cryptocurrency market is changing rapidly right now. A week ago, it seemed that cryptowinter had returned. However, the trend has changed again - the cryptocurrency is growing against the backdrop of a series of collapses of large banks. In the week of March 10-17, Bitcoin rose by more than 28%, rising from $20 to $220. The world's first cryptocurrency is now trading at $26.

A new recalculation of the difficulty of mining the first cryptocurrency shows that the indicator increased by 1,16% and reached 43,55 trillion hashes, setting another record. The new difficulty record makes bitcoin mining more labor intensive and less profitable.