Crypto sentiment nosedives to ‘extreme fear’ as Bitcoin drops under $106K

The Crypto Fear & Greed Index dropped 21 points to 21, signaling "Extreme Fear," its lowest level in seven months, following Bitcoin's brief dip below $106,000 to a low of $105,540. This sharp decline in sentiment follows reduced institutional demand, lower blockchain activity, and concerns over the Federal Reserve's hawkish signals regarding future interest rate cuts. Last week, Bitcoin ETFs experienced nearly $800 million in net outflows, marking the first time institutional buying fell below the daily mined supply in seven months. Despite the current fear, crypto bulls are anticipating a potential rally, referencing historical data showing Bitcoin's average gain of over 42% in November.

(Source：Cointelegraph)