Market sentiment is approaching extreme fear zone

The index of fear and greed in the cryptocurrency market has reached its lowest value in the last year and a half

Currently, the fear and greed index is 29 points and is in the “fear” zone.

After short periods of strong volatility, June began with the index value in the range from 70 to 74. However, by the end of the month, the index began to fall rapidly along with the rate of the first cryptocurrency by capitalization - Bitcoin (BTC).

For the first time since January 2023, the fear and greed index dropped to 29 points. Then, after the collapse of the FTX crypto exchange, the arrow dropped to 21, and Bitcoin was trading at levels below 25 thousand dollars.