Crypto Fear & Greed Index falls to 8, signaling extreme fear

The Crypto Fear & Greed Index, a metric compiled by data provider Alternative, has fallen four points from the previous day to a score of eight. This marks the first time the index has reached single digits since Feb. 23. The market sentiment gauge shifted from "fear" to "extreme fear" on Jan. 30 and has remained in the latter stage since. The index measures sentiment on a scale where zero represents extreme fear and 100 indicates extreme optimism. It is calculated based on volatility (25%), trading volume (25%), social media mentions (15%), surveys (15%), Bitcoin's market share (10%), and Google search volume (10%).