Crypto Fear and Greed Index Hits Record Lows Amid Market Uncertainty

The Crypto Fear and Greed Index has reached record lows, dipping to a reading of 5. This level was last seen during the COVID-19 crash in March 2020.

Market sentiment around cryptocurrencies has remained in 'Extreme Fear' territory throughout February, with most retail traders expecting Bitcoin's price to fall below $50,000 or remain range-bound over the next three months.

The altcoin market has fallen approximately 21% this year, with Ethereum accounting for a bulk of the decline. The cryptocurrency market capitalization rose 1.3% in the last 24 hours but has fallen over 25% this year.