Will the crypto market downtrend persist as the fear and greed index drops to 21? Learn about the factors affecting the market in this analysis.
The fear and greed index of the digital currency market has dropped to 21, indicating extreme fear among investors. This noticeable drop is due to capital outflows from Exchange-Traded Funds (ETFs), market value decline, and macroeconomic concerns. Currently, the total market value has decreased to $2.71 trillion. While Bitcoin (BTC) market value dropped to $1.62 trillion, Ethereum (ETH) faced a worse situation with its market value plunging to around $228 billion.
