Fear and Greed Index at 72, Maintaining Greed Zone

The cryptocurrency Fear and Greed Index has been recorded at 72, indicating a state of 'greed'. This is a 2-point increase from the previous day, showing that short-term sentiment has improved more rapidly than the one-month average. According to CoinGlass, as of the 28th, the Fear and Greed Index stands at 72, with a recent 7-day average of 70 and a recent 30-day average of 41. The Fear and Greed Index displays market sentiment on a scale from 0 to 100, where lower values indicate fear and higher values indicate greed. A score of 72 is interpreted as leaning towards risk preference rather than neutrality. The difference in averages over periods is more pronounced than daily fluctuations, emphasizing that the greed zone has been maintained over the past week. The Fear and Greed Index is a reference indicator that shows the psychological state of market participants rather than predicting price direction, and it should be checked alongside price, trading volume, and derivatives positions. For Korean investors, it serves as a supplementary indicator to gauge the short-term sentiment towards major cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH).