The Crypto Fear & Greed Index, which estimates market sentiment, has dropped to 18. This marks a shift from 'Fear' to 'Extreme Fear', as per data provider CoinMarketCap.
This index is calculated based on various factors such as price movements of the top 10 cryptocurrencies by market capitalization, market volatility, derivatives data including the put/call ratio, Stablecoin Supply Ratio (SSR), and search data from CoinMarketCap.
The scale ranges from 0, indicating extreme fear, to 100, representing extreme optimism. The index has fallen two points from yesterday's value of 20.