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

April 23rd The Crypto Fear and Greed Index jumped 14 points in a single day to hit 46 on Wednesday, marking its highest level in more than three months—since January 18. The gauge had sunk to a historic low of 5 points on February 23, after Bitcoin dropped to roughly $63,000 following the Trump administration’s tariff hikes. The rally was primarily fueled by Bitcoin’s surge: the token climbed 5.9% to nearly $79,400 over roughly 20 hours before pulling back to around $77,900. CryptoQuant’s research director noted the uptick was entirely driven by demand in the perpetual futures market, while spot demand is shrinking. Should traders begin taking profits, a market pullback could follow. Even with the index’s gain, it remains in the “fear” zone. Since January 18, the gauge has failed to break out of this range. Analysts note retail trader participation is lower than in prior market cycles, and key sentiment indicators rely heavily on retail-driven data like social media activity and search volume.