Crypto Market Enters Extreme Fear Zone, Historically Similar to COVID-19 and FTX Crashes

The cryptocurrency market has entered a highly uncertain period, with the Crypto Fear and Greed Index reaching an extreme low of 13 out of 100.

This score is rare, having only coincided with major global financial crises in the past, including the March 2020 COVID-19 crash and the November 2022 FTX collapse.

With Bitcoin trading at around $64,791, down more than 5% over the past week, investors are reassessing their risk exposure. However, some experts argue that extreme fear often precedes market bottoms rather than prolonged downturns.