The Bitcoin/Crypto Fear and Greed Index today says that the current market sentiment for crypto is very negative, even more so than it was in March 2020.

• Last week, the index began to display “significant fear” in the market. Bitcoin dropped below $30,000 for the first time since July, along with the UST stablecoin. The index currently has a score of just 8, which is the lowest since March 28, 2020. Since then, the index has plunged to the same level as a result of covid lockdown concerns.
• Since the beginning of the year, on March 28th, 2022, a score of 60 has been recorded; this is the highest level of the year as yet.
• The Fear and Greed Index is a 0-100 scale that measures people’s level of worry and avarice. 0 means “extreme fear” and 100 means “extreme greed.”
• It is made up of a number of elements, including market volatility, momentum, volume, Bitcoin dominance, and social media activity.
• Bitcoin’s price has now fallen for the seventh consecutive week, which is a record for the cryptocurrency. The previous longest streak of red weeks was in late 2014, when it lasted for six weeks.
• Based on several indicators, Blockware’s Lead Insights Analyst Clemente believes the cryptocurrency has hit a multi-generational bottom.
• This would be excellent news for MicroStrategy if true. If the price of Bitcoin falls to $21,000 or lower, MicroStrategy will be required to put additional Bitcoin as collateral on its Silvergate loan.