Crypto Fear & Greed Index stands at 16, remaining in extreme fear

The Crypto Fear & Greed Index, compiled by data provider Alternative, registered 16, a one-point decrease from the previous day, keeping market sentiment in the "extreme fear" category. The index measures market sentiment on a scale where zero represents extreme fear and 100 signifies extreme optimism. It is calculated based on volatility (25%), trading volume (25%), social media mentions (15%), surveys (15%), Bitcoin's market cap dominance (10%), and Google search volume (10%).