Crypto 'Fear & Greed Index' hits 8, extreme fear persists

The Crypto Fear & Greed Index, compiled by data provider Alternative, has dropped three points from yesterday to 8, indicating that a state of "Extreme Fear" continues to grip the market. The index measures market sentiment on a scale from 0 (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 dominance (10%), and Google search volume (10%).