Crypto Market Hit by 'Extreme Fear' as Bitcoin and Ethereum Plummet

The crypto market has been underperforming recently, with significant losses for Bitcoin, Ethereum, and XRP. This sentiment is reflected in the fear and greed index, which measures investor sentiment on a scale of 0 to 100.

According to CoinMarketCap, the fear and greed index reached an all-time low of 5 on February 5th, indicating extreme fear among investors. Although it has risen slightly since then, it remains at an extraordinarily low level of 12 as of February 18th.

This intense bearishness is causing concern among investors, but experts caution against making impulsive decisions based solely on the index. Instead, they recommend a cautious approach to investing in the market during this time.