Crypto Fear & Greed Index drops to 16, signaling deeper fear

The Crypto Fear & Greed Index from data provider CoinMarketCap has fallen two points from yesterday to 16, indicating a deepening of "Extreme Fear" in the market. The index measures sentiment on a scale where 0 represents extreme fear and 100 signifies extreme optimism. CoinMarketCap's index is calculated based on factors including the price movements of the top 10 cryptocurrencies, market volatility, derivatives market data like the put-to-call ratio, the Stablecoin Supply Ratio (SSR), and the platform's own search data.