Crypto Fear & Greed Index Jumps to 3-Month High, But Remains in "Fear" Zone

BlockBeats News, April 23rd. According to data from Alternative.me, the Crypto Fear and Greed Index rose by 14 points in a single day to reach 46 points, hitting the highest level in over three months since January 18th. The index had hit a historic low of 5 points on February 23rd when Bitcoin fell to around $63,000 due to the Trump administration's tariff increase.

This rebound was mainly driven by Bitcoin's surge. Bitcoin rose by 5.9% to nearly $79,400 in about 20 hours, then fell back to around $77,900. The director of research at CryptoQuant pointed out that this rally was entirely driven by demand in the perpetual futures market, but spot demand is contracting. If traders start taking profits, a market pullback may occur.

Despite the index's rise, it is still in the "fear" zone. Since January 18th, the index has been unable to break free from this area. Analysts noted that retail trader participation is lower than in previous market cycles, and relevant sentiment indicators mainly rely on retail-driven data such as social media and search volume.