Crypto Sentiment Turns Greedy as Fear and Greed Index Reads at 72 in 2024

• The Crypto Fear and Greed Index reached 72 on October 24, reflecting high levels of market optimism.
• The index fluctuated from extreme fear to greed, showing volatile crypto market sentiment from 2018 to 2024.
• Despite volatility, an upward trend in FGI highlights strong market interest and increased risk appetite among crypto investors.

Crypto Fear and Greed Index (FGI) from 2018 to October 24, 2024, with a current index value of 72,has indicated a high market greed. The FGI ranges from 0 to 100, where lower values represent extreme fear and higher values indicate extreme greed in the market. 

Throughout this period, the index has fluctuated significantly, moving through cycles of fear and greed, which tCrypto Sentiment Turns Greedy as Fear and Greed Index Reads at 72 in 2024ypically correspond to price volatility in the cryptocurrency market.

Source: SoSoValue

In early 2018, the index experienced a broad range, with several peaks reaching above 60, indicating periods of high market optimism. However, sharp dips below 20 also occurred, signaling extreme fear phases. These fluctuations continued into 2019, with the index rising and falling frequently but staying mostly below 60.

From mid-2020 onward, the index trended higher, often reaching levels above 60, showing increased investor confidence and market optimism. In 2021, notable peaks occurred, with the index exceeding 80, reflecting heightened market greed during Bitcoin’s substantial price rally.

This period saw frequent sharp changes, with significant drops back into the fear range below 40, marking abrupt sentiment shifts in response to market corrections.

Entering 2022, the FGI displayed heightened volatility, with a series of rapid shifts between fear and greed. The index often dropped below 20, suggesting increased fear during cryptocurrency market downturns. 

In 2023, the index showed moderate levels of both fear and greed, with fewer extreme peaks or troughs compared to previous years. By 2024, the index demonstrated periods of increased stability, yet it continued to experience noticeable shifts, although not as extreme as earlier years.

On October 24, 2024, the FGI recorded a level of 72, placing it within the greed range. This indicates an overall positive sentiment, with investors showing increased risk appetite despite recent market fluctuations. 

The upward trend in FGI levels suggests a stronger market interest in cryptocurrencies, albeit with periodic corrections. Over this six-year period, the Crypto Fear and Greed Index has shown a cyclical pattern, reflecting the underlying volatility and sentiment shifts characteristic of the cryptocurrency market.