Time To Sell? Crypto Market Hits Extreme Greed Score As Index Crosses 92

Crypto Fear and Greed Index Shows Investors Have Become Extremely Greed Above 92. Is There An Imminent Market Correction?

Like the capitalization of the global crypto market crosses 2.7 trillion dollars, inching closer to an all-time high, a market correction is likely soon. The Crypto Fear and Greed Index proves this, with extreme greed reaching 92.

He crypto fear and greed index It is a sentimental indicator that is used to determine the emotions of traders at any time. The index has three ranges: fear (0-49), neutral (50) and greed (51-100). A fearful market occurs when investors are worried and sell their assets, causing prices to drop. The greed index is characterized by investors' thirst for more profits. A greed index is usually accompanied by a market correction where cryptocurrency prices fall slightly after a significant rise.

Extreme greed consumes the crypto market

Several investors have adopted a greedy stance since the global cryptocurrency market began to flourish from the current bull run in recent weeks. TO chart from price tracking platform CoinMarketCap shows that this trend has continued for some time.

According to the chart, the greed index has consumed the crypto market for the past month. On February 28, the metric went from greed to extreme greed and has remained that way until now.

With prominent crypto assets like Bitcoin, Ethereum, and Solana experiencing significant increases, more investors remain optimistic and ready for more profits.

What role does the Bitcoin halving play?

Notably, the upcoming Bitcoin halving event will play a role in the market reset. The Bitcoin halving event is the periodic reduction of mined BTC received as block rewards. The mechanism helps curb inflation while boosting demand, hence the price of the asset. On April 19, the block reward will be reduced from 6.25 BTC to 3.125 BTC.

Historical records show that the Bitcoin halving event usually triggers a market correction, causing cryptocurrency prices to decline. The good thing is that a massive bull run often occurs months after the halving.

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