‘Extreme Fear’ Grips Bitcoin Market After Price Plunge, Sentiment Gauge Shows

‘Extreme Fear’ Grips Bitcoin Market After Price Plunge, Sentiment Gauge Shows

The Crypto Fear and Greed Index, a metric that measures the current sentiment in the bitcoin market, has fallen to “extreme fear” levels not seen since April 2020, a report Tuesday showed.

The drop in market sentiment follows the past week’s plunge in the bitcoin (BTC) price to about $43,200, down from last month’s record near $65,000.

The Crypto Fear and Greed Index is now at 21, down from a “greedy” level of 73 just last week, according to the report from hosting site Alternative and quoted by Arcane Research, a Norwegian analysis firm.