What is Greed Index in crypto?

[Fidelia]

One of the things I learned today in crypto is called Greed Index. They say it is prevalent with Bitcoin pumping. What is Greed Index in crypto and what does it indicate? What use is it in crypto?

 

[riberet19]

The fear and greed index is a barometer that calculates the market sentiment based on market data collected regarding the level of selling or buying; consequently, it indicates very well what the sentiment of the investor is: greed, neutrality, or fear.

 

[Suba]

If you visit Coinmarketcap you will find Fear and Greed which is used as an indicator to measure market sentiment, only for Bitcoin not crypto as a whole. Currently the F&G index shows a number of 68, which indicates a condition of greed.