The Bitcoin Fear and Greed Index measures market sentiment on a daily scale from 0 to 100. A reading near 0 indicates Extreme Fear — the market is panicking and participants are selling. A reading near 100 indicates Extreme Greed — the market is euphoric and participants are buying aggressively. The dashboard below tracks the daily index going back to 2018, showing how today’s sentiment compares to every major Bitcoin market top and bottom in history.
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The raw data powering this dashboard is sourced daily from the Alternative.me Fear & Greed Index, the most widely referenced Bitcoin sentiment indicator.”
How the Fear and Greed Index Is Calculated
The Fear and Greed Index is a composite of six data inputs published daily by Alternative.me. Volatility accounts for 25% of the score, comparing current Bitcoin volatility to 30-day and 90-day averages — higher volatility drives the score lower toward fear. Market momentum and volume account for another 25%, measuring current buying volume against recent averages. Social media sentiment on Twitter and Reddit contributes 15%, with high positive engagement pushing the score toward greed. Bitcoin dominance accounts for 10%, with rising dominance suggesting a flight from altcoins to Bitcoin — often a risk-off signal. Google Trends data for Bitcoin-related search queries contributes the remaining 10%.
Reading the Fear and Greed Index as a Contrarian Signal
The most effective use of the Fear and Greed Index is as a contrarian indicator. When the market is in Extreme Fear — readings below 25 — selling pressure is typically at its highest and many participants have already exited their positions. Historically, these periods have represented favorable entry points for long-term investors. When the market is in Extreme Greed — readings above 75 — speculative excess is typically near its peak and the risk of a significant correction is elevated.
Looking at our 10-year dataset, Extreme Fear has clustered around Bitcoin’s major market bottoms: the COVID crash of March 2020, the bear market lows of late 2018 and early 2019, the post-FTX collapse of late 2022, and the current period. Extreme Greed has clustered around major tops: the December 2017 peak, the April and November 2021 local tops, and the March 2024 pre-halving high.
The index does not provide precise timing — Extreme Fear can persist for months during a deep bear market — but as a broader context indicator it has a strong historical track record.
Fear and Greed Sentiment Distribution
Our dashboard includes a sentiment distribution chart showing how many days Bitcoin has spent in each zone over the measured history. The data reveals an asymmetry: Bitcoin spends more time in fear than greed. Over the full dataset, fear-zone readings (below 50) account for the majority of trading days, which reflects Bitcoin’s historical pattern of long bear markets punctuated by sharp but shorter bull runs.
The Extreme Greed zone — readings above 75 — is the rarest. Days in Extreme Greed tend to cluster tightly around market peaks and are typically followed by sharp reversals. This is consistent with the well-documented dynamics of speculative markets: euphoria is short-lived.
Frequently Asked Questions
What is the Bitcoin Fear and Greed Index? The Bitcoin Fear and Greed Index is a daily composite sentiment indicator published by Alternative.me, measuring market psychology on a scale from 0 (Extreme Fear) to 100 (Extreme Greed). It draws on volatility, momentum, social media sentiment, Bitcoin dominance, and Google Trends data.
What does Extreme Fear mean for Bitcoin? Extreme Fear (readings below 25) indicates that the market is heavily bearish and many participants are selling or have already sold. Historically, Extreme Fear has appeared near Bitcoin price bottoms and preceded significant recoveries, making it a potential contrarian buying signal for long-term investors.
How often is the Fear and Greed Index updated? The Fear and Greed Index is published once per day. Our dashboard reflects the latest reading as of the previous day, updated each morning through our live data pipeline.
Want to test a strategy using this data? → Run the backtest