Crypto 'Fear & Greed Index' drops to 8 amid ongoing extreme fear

The Crypto Fear & Greed Index, compiled by data provider Alternative, fell one point from yesterday to a reading of eight, indicating that a state of extreme fear persists in the market. The index measures market sentiment on a scale of zero (extreme fear) to 100 (extreme optimism). It is calculated based on several factors: volatility (25%), trading volume (25%), social media mentions (15%), surveys (15%), Bitcoin's market cap dominance (10%), and Google search volume (10%).