Bitcoin Price Plummets $3,000 in Two Hours, Triggers Extreme Fear Among Investors

Bitcoin's price drop of over $3,000 in two hours has left the cryptocurrency market reeling. The sudden and drastic change in value has led to a surge in fear among investors, as evidenced by the Crypto Fear and Greed Index dropping to 5.

The index, which measures investor sentiment, is at its lowest point since its launch in August 2018, with readings of 5 indicating extreme fear. This level of fear is typically seen before a market recovery, according to historical patterns.