Sentiment gauge drops 40% in a week
Compared to before the price drop, meanwhile, sentiment is not what it was on crypto.
Even as exchanges see an acceleration in BTC leaving their books, the overall picture is now firmly one of “fear” when it comes to Bitcoin and altcoin investors.
According to the Crypto Fear & Greed Index, which uses a basket of factors to give a normalized score for market sentiment, “extreme fear” is just a step away.
At 29/100, the Index is four points off a return to its extreme fear bracket, having hit 27/100 over the weekend.
The latter represents a drop of 40% in a single week — seven days prior, the Index was at 45/100, recording its most optimistic levels since April.