On February 8th, according to Alternative data, the cryptocurrency fear and greed index was 7 (up from 6 yesterday), indicating that market sentiment remains in an unprecedentedly high level of "extreme fear." Such panic has only been seen in June 2022 and August 2019.
Note: The fear index ranges from 0 to 100 and includes the following indicators: volatility (25%) + market trading volume (25%) + social media buzz (15%) + market surveys (15%) + Bitcoin's share of the overall market (10%) + Google trending topics (10%).
