The recent Bitcoin market plunge has caused uncertainty among investors, affecting market sentiment. The Crypto Fear & Greed Index measures investor sentiment using a scale of 1 to 100, considering factors like volatility, social media sentiment, market momentum, volume, dominance, and trends.

Scores between 1 and 24 indicate extreme fear, while scores between 24 to 46 indicate fear. The index is currently in the Neutral zone, indicating neither optimism nor pessimism, leading to uncertainty.

A neutral score can cause significant market swings, leading to high volatility. If sellers dominate, cryptocurrencies like Bitcoin could decline, while if buyers prevail, prices could rise rapidly.

The crypto market cap has dropped by about $30 billion since the start of the month, following an initial increase. Factors affecting the fluctuating sentiment include market volatility, social media sentiment, market momentum, volume, and dominance of major crypto like Bitcoin.

Given the current neutral sentiment, the market could either go either way, with positive sentiment increasing prices and negative sentiment causing a decline. Investors need to stay informed and adjust their strategies accordingly.

Today, Bitcoin price fell by over 2%, currently trading at $61,816.17 with a 24-hour trading volume of $22,842,152,204.