According to BlockBeats, data from Alternative indicates that the cryptocurrency Fear and Greed Index has dropped to 27 on July 9th, down from 28 the previous day, suggesting a continued spread of market panic.
The Fear and Greed Index ranges from 0-100 and includes the following indicators: volatility (25%), market trading volume (25%), social media heat (15%), market surveys (15%), Bitcoin's proportion in the overall market (10%), and Google hot word analysis (10%).
These indicators collectively provide a comprehensive view of the market's sentiment, with lower scores indicating higher levels of fear and higher scores suggesting greed. The recent drop in the index points to an increase in fear and uncertainty in the cryptocurrency market.