Although the crypto sentiment index hasn’t fallen this low in more than eight months, some analysts argue the situation isn’t as dire as it appears.
Crypto sentiment has dropped to its most fearful level in over eight months, as ongoing macroeconomic uncertainty continues to rattle market participants.
However, crypto analysts are anticipating the bearish mood to be short-lived.
The Crypto Fear & Greed Index, which measures overall market sentiment, posted an “Extreme Fear” score of 10 in its Saturday update, the lowest score it has seen since Feb. 27, as Bitcoin (BTC) fell below $95,000 on Friday and has yet to reclaim above $96,000 at the time of publication, according to CoinMarketCap.
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