The Crypto Fear and Greed Index has hit its highest index score this year, reaching levels not seen since Bitcoin posted its all-time high in November 2021.
A March 20 update of the Index showed a score of 68, placing it firmly within the “Greed” territory.
The Crypto Fear and Greed Index aims to numerically present the current “emotions and sentiments” towards Bitcoin and the cryptocurrency market, with the highest score being 100.
The last time the index recorded a score above 66 was on Nov. 16, 2021, just days after Bitcoin’s all-time high of over $69,000 was recorded on Nov. 10, 2021, according to Coingecko.
Sentiment around BTC and crypto has been bullish since the collapse of Silicon Valley Bank and the resulting fallout in the traditional financial system. Over the past seven days, Bitcoin has recorded gains of around 27.8% as per Coingecko data, and hit $28,000 for the first time since June 2022.