Bitcoin Faces Extreme Fear as Crypto Fear and Greed Index Plummets to 23

The latest data from COINOTAG, dated April 7th, reveals a significant decline in the Crypto Fear and Greed Index, which has fallen to 23, down from 34 observed yesterday. This change underscores a shift in market sentiment toward a prevailing state of extreme fear, reflecting growing apprehension among investors. Notably, the average for the past week remained at 34, highlighting the volatility in the cryptocurrency landscape.

The Crypto Fear and Greed Index is calculated using various indicators, including volatility (25%), market volume (25%), social media hype (15%), market surveys (15%), Bitcoin’s dominance (10%), and Google trends analysis (10%). These metrics provide a comprehensive overview of market perceptions and behavioral trends among crypto investors, essential for navigating today’s complex digital asset environment.