Crypto Fear & Greed Index Records 23 Points, Entering Extreme Fear Stage

Uk Jin

Summary

The Crypto Fear & Greed Index has fallen to 23 points, entering the extreme fear stage.
In the crypto market, Bitcoin fell by 6.18%, and major altcoins also recorded significant declines.
This index is calculated based on various factors such as volatility, trading volume, and social media, reflecting investors' market sentiment.

According to Alternative, a cryptocurrency data provider, the Crypto Fear & Greed Index recorded 23 points, down 11 points from the previous day.

As of 9:00 AM, Bitcoin is trading at $78,337 on CoinMarketCap, down 6.18% from the previous day.

Altcoins experienced a larger decline. At the same time, Ethereum (ETH) and XRP fell by 12.55% and 10.08%, respectively. Additionally, Binance Coin (-6.45%), Solana (-12.43%), Dogecoin (-11.81%), and Ada (-12.46%) also plummeted.

The Fear & Greed Index is an indicator of market sentiment, with values closer to 0 indicating extreme fear and values closer to 100 indicating extreme greed. This index is calculated based on volatility (25%), trading volume (25%), social media (15%), surveys (15%), Bitcoin dominance (10%), and Google Trends (10%).