Crypto Market Continues Downward Trend Amid 'Extreme Fear'

The cryptocurrency market has been experiencing significant declines over the past few days, and February 24 was no exception. The price of Bitcoin fell by around 5% in the last 24 hours to trade at $63,062.20, its lowest point since early October 2021 when it hit an all-time high of $126,080.

Ethereum also experienced a decline, falling by 5% to trade at $1,824.55. Other major cryptocurrencies such as XRP, BNB, and Solana saw losses ranging from 4.5% to 5.5%. The overall sentiment among investors remains cautious, with the Crypto Fear & Greed Index reaching a record low of 9 points.

The market's decline is also reflected in the performance of leading crypto stocks such as Strategy (MSTR), Bitmine Immersion Technologies (BMNR), and Circle Internet Group (CRCL). These companies' shares have fallen by between 2% to over 6% in the last 24 hours. The largest crypto trading exchange, Coinbase Global (COIN), also saw a decline of around 3.5%.

Experts will be watching closely for any signs of improvement or stabilization in the market, but for now, it seems that 'extreme fear' remains a prevailing sentiment among investors.