<svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 820 376" width="820" height="376" role="img" aria-labelledby="t d" font-family="'Manrope', ui-sans-serif, system-ui, -apple-system, 'Segoe UI', Roboto, Helvetica, Arial, sans-serif">
  <title id="t">Risk-on and risk-off describe the market's mood toward risk</title>
  <desc id="d">In a risk-on market, confidence is high and money flows into riskier assets like stocks and crypto. In a risk-off market, fear takes over and money rotates into safe havens like bonds and gold. It is the same fear-and-greed swing, seen as a flow.</desc>
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  <text x="40" y="52" font-size="26" font-weight="800" fill="#0F172A">Risk-On Or Risk-Off</text>
  <text x="40" y="80" font-size="15" fill="#5A6578">The same fear-and-greed swing, seen as a flow between risk and safety</text>

  <rect x="56" y="140" width="330" height="150" rx="12" fill="#F0FDF4" stroke="#15803D" stroke-opacity="0.3"/>
  <text x="221" y="178" font-size="16" font-weight="800" fill="#15803D" text-anchor="middle">Risk-on</text>
  <text x="221" y="206" font-size="13" fill="#5A6578" text-anchor="middle">confidence is high</text>
  <text x="221" y="240" font-size="13.5" font-weight="700" fill="#0F172A" text-anchor="middle">money into stocks &amp; crypto</text>
  <text x="221" y="262" font-size="12" fill="#15803D" text-anchor="middle">greed</text>

  <rect x="434" y="140" width="330" height="150" rx="12" fill="#FEF2F2" stroke="#DC2626" stroke-opacity="0.3"/>
  <text x="599" y="178" font-size="16" font-weight="800" fill="#DC2626" text-anchor="middle">Risk-off</text>
  <text x="599" y="206" font-size="13" fill="#5A6578" text-anchor="middle">fear takes over</text>
  <text x="599" y="240" font-size="13.5" font-weight="700" fill="#0F172A" text-anchor="middle">money into bonds &amp; gold</text>
  <text x="599" y="262" font-size="12" fill="#DC2626" text-anchor="middle">fear</text>

  <text x="410" y="336" font-size="13" fill="#5A6578" text-anchor="middle">A Fear and Greed Index is, in effect, a risk-on or risk-off gauge.</text>
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