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Cryptocurrency market sentiment is at its highest level in a year, showing a shift in investor attitude, as evidenced by the Bitcoin BTC/USD Fear and Greed Index values.
What happened: The fear and greed index hit 61 on Monday, an improvement from last month when the index signaled extreme fear among investors at 25.
The current level of 61 is considered to be in greed territory, indicating optimism and more bullish market sentiment.
According to data from Coinglass, longs held $7.6 million in the last 12 hours, while shorts liquidated $2.41 million. On Binance, longs held $3.11 million in crypto assets.
See more: Best Crypto Day Trading Strategies
The recent bull run in the crypto market has contributed significantly to a wave of greed among investors. Despite the sentiment of ‘greed’, there is always the risk of a sudden correction or pullback that could result in significant losses.
Price Action: At the time of writing, BTC was trading at $23,661 up 2% in the past 24 hours, according to Benzinga Pro.
Read Next: Bitcoin, Ethereum, Dogecoin Spike Amid Risk-On Rebound: Analyst Sees Apex Crypto Breach $24,000 If It Happens
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