Bitcoin Fear & Greed Index Entered Extreme Fear Territory
Recent data indicates that the Bitcoin Fear & Greed Index has shifted significantly, entering extreme fear territory after a recent BTC price decline.
The Fear & Greed Index, developed by Alternative, measures market sentiment toward Bitcoin and cryptocurrencies based on factors such as volatility, trading volume, social media activity, market dominance, and Google search trends.
The index ranges from 0 to 100, with values above 53 indicating greed and those below 47 reflecting fear.
Currently, the index stands at 17, signaling extreme fear in the market.
READ MORE: Michael Saylor Stays Loyal to Bitcoin Despite Market Crash
Previously, the index was near the extreme greed threshold, but recent price drops have pushed sentiment to the other extreme.
Historically, Bitcoin has often reversed trends when the Fear & Greed Index hits extreme levels. As the index entered extreme fear, it remains to be seen if Bitcoin will follow this pattern or if the market will see another shift in sentiment.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
