Magnetic susceptibility, Mo¨ssbauer, and neutron scattering studies of the same alloy sample all indicate that amorphous YFe2(a‐YFe2) exhibits spin‐glass behavior with a truly thermodynamic spin‐glass transition at TS.G.=58K. These studies show that spin‐glass behavior can persist to quite high magnetic concentrations in an amorphous alloy system which is dominated by competing ferromagnetic and antiferromagnetic exchange interactions. At a lower temperature of T?20K, the susceptibility versus T curve shows a break and the coercive field is anomalous. We interpret this phenomenon near T=20K as arising from magnetic ’’blocking’’ of individual spins or regions of correlated spins which persist below TS.G.. This produces a cluster‐freezing‐type ’’pseudo‐transition’’ which is merely a manifestation of the slowing down of spin fluctuations to a time interval comparable with the experimental susceptibility measurement time. The temperature dependence of the spin‐glass order parameter is obtained from the susceptibility results and is in close agreement with data generated by Monte‐Carlo simulations.