The Fear & Greed Index and bitcoin cycles

Open «Analytics» and pick the «Sentiment» or «BTC cycles» tab (next to them: «Overview», «Open interest», «Arbitrage»). Both pages are free, need no registration, and the numbers arrive in the markup itself — visible even with scripts off.

Fear & Greed Index: where the number comes from

It is computed by us from live exchange data — no social networks and no search trends, which cannot be verified. Recalculated every five minutes; the page refreshes once a minute. Under the number is the zone of the scale, below it the split into five components with weights: the method is visible, not hidden. History accumulates since 20.08.2026 with one point per hour and is kept for up to a year; this index has no borrowed history because it is ours.

Five components and weights

• «Market breadth», weight 25% — the share of liquid coins (24h volume of at least $1M) up over 24 hours.
• «Volume in gainers», weight 20% — the share of daily turnover that went to rising coins.
• «Funding», weight 25% — the average rate weighted by open interest; the edges of the scale are ±0.05% per period.
• «BTC volatility», weight 15% — bitcoin's daily range against its last 90 daily candles, inverted: a wide range is fear.
• «Open interest move», weight 15% — the weighted change of OI over an hour; the edges of the scale are ±5%.
• Each component is a number from 0 to 100; the result is their weighted sum.

The scale

0 to 19 — «Extreme fear», 20 to 39 — «Fear», 40 to 59 — «Neutral», 60 to 79 — «Greed», 80 to 100 — «Extreme greed». The thresholds are the same as in every index of this kind, so zones are comparable with others; the number itself is not, the method differs. Fear is painted red, greed green.

Altcoin Season Index

The share of the top 50 coins by volume (excluding stablecoins and wrapped assets) that beat bitcoin over 90 days. Up to 25 — «Bitcoin season», from 75 — «Altseason», in between — «Mixed market». Under the number it says how many coins out of how many beat BTC and how far BTC itself travelled over 90 days. Coins younger than 90 days do not take part — there is nothing to compare, so the denominator can be below fifty. With fewer than 30 comparable coins the index is not shown at all. The «History» chart has two lines: solid — fear and greed, dashed — altseason.

Bitcoin cycles: four indicators

• «Mayer Multiple» — price divided by its 200-day average. Historical guides: above 2.4 — overheated, below 0.8 — undervalued. The chart shows a dashed line at one.
• «Pi Cycle Top» — the 111-day average against twice the 350-day one. Their upward crossing caught the tops of 2013, 2017 and 2021 within three days; we show the ratio — one and above historically meant a top.
• «200-week moving average» — the historical «floor» of bear markets; we show its level and the price's distance from it in percent.
• «Rainbow chart» — a logarithmic regression over the whole BTC history since 2010. Seven bands: «Fire sale», «Cheap», «Accumulate», «Fair», «Expensive», «Euphoria», «Bubble» — with today's dollar boundaries, the active one highlighted.
• The data is our own BTC daily candles since 2020; recalculated once an hour, the page refreshes every ten minutes.

Limitations

• The indices describe the current state, they do not predict: «Extreme fear» does not mean «time to buy».
• Our number will not match alternative.me and the like — the components and sources differ. Compare zones, not digits.
• Fear and greed history is short — since 20.08.2026; someone else's cannot be substituted.
• The cycle indicators need at least 1400 daily candles (200 weeks); until then the page says «Computing».
• The rainbow curve uses the published coefficients of the original: fitting a regression to our short series would mean inventing a different indicator under the same name.
• There are no halving dates or days-since-halving counters on the page. No advice either.

Questions and answers