Crypto Market Sentiment Turns Fearful as Fear & Greed Index Hits 21

The Crypto Fear & Greed Index has dropped to 21, indicating that market sentiment is predominantly fearful. This reading falls into the 'fear' category and suggests a high level of caution among investors.

The index is calculated by CoinMarketCap using factors such as price momentum, volatility, derivatives data, and search trends. A score of 0 indicates extreme fear, while 100 signals extreme greed.

Despite the move from 'extreme fear' to 'fear', the current reading remains historically low and points to a fragile market susceptible to further downside.