Current sentiment
History · last 3 months
How the index is calculated
The index aggregates five data sources. Each day is weighted the same as the previous one, so the crypto market's sentiment shows a meaningful trend. The current index is calculated for Bitcoin only – its volatility makes up a large part of it.
Volatility
25 %We measure Bitcoin's current volatility and maximum drawdowns and compare them with the averages over the last 30 and 90 days. An unusual rise in volatility is a sign of a fearful market.
Momentum and volume
25 %Current volume and market momentum are compared to the 30/90-day average. High buying volumes in a rising market usually indicate overly greedy / bullish behavior.
Social media
15 %We track posts on various BTC hashtags on X (Twitter) and measure how quickly and how many interactions they receive. An unusually high interaction rate means growing public interest – which corresponds to a greedy market.
Surveys (paused)
15 %In cooperation with strawpoll.com, weekly crypto polls with 2,000–3,000 votes used to run. They gave a rough picture of investor sentiment; today they are paused.
Dominance
10 %Dominance shows a coin's share of the total market capitalization. Rising Bitcoin dominance signals a flight from speculative altcoins (fear), while falling dominance means greed and riskier altcoin bets.
Google Trends
10 %We pull Google Trends data for Bitcoin-related search queries. We track volume changes and suggested related queries – e.g. a sharp rise in "bitcoin price manipulation" searches is a clear sign of fear in the market.
Methodology source: alternative.me
What is the Fear & Greed Index
The Fear & Greed Index measures the prevailing mood of the crypto market on a 0–100 scale. It combines data on volatility, market momentum and volume, social media activity, Bitcoin dominance, and Google Trends searches. Values below 25 signal extreme fear, values above 75 extreme greed. The history goes back to February 1, 2018, when the index was created, so MAX shows the 2018–2019 bear market, the March 2020 covid crash, and the 2021 euphoria. Source: alternative.me.
The index is often used contrarian-style: extreme fear has historically accompanied market bottoms and been a buying opportunity, while prolonged periods of extreme greed have warned of an overheated market. It's a supplementary sentiment signal, though, not a standalone trading system — best read alongside price and on-chain data.