Data shows the Bitcoin market sentiment has worsened recently and is approaching extreme fear territory.
Bitcoin Fear & Greed Index Has Plunged Inside The Fear Region Recently
The “fear and greed index” is a Bitcoin indicator that tells us about the general sentiment among the investors in the Bitcoin and broader cryptocurrency market. This metric uses a numeric scale from zero to a hundred to represent this sentiment.
When the index has a value greater than 54, the investors share greed. On the other hand, values under 46 imply the presence of fear in the market. The in-between region naturally suggests that the majority mentality is neutral currently.
Here is what the Bitcoin fear and greed index looks like right now:
As displayed above,