Crypto market sentiment dropped back into “extreme fear” amid Bitcoin’s price slump, with Arthur Hayes calling that it could drop again.
Crypto market sentiment has fallen back into “extreme fear” as Bitcoin briefly fell below $56,000, while BitMEX co-founder Arthur Hayes predicts it could sink at another 12% to fall under $50,000 over the weekend.
The Crypto Fear & Greed Index — which measures market sentiment and trends to give a total possible score of 100 — hit a score of 22 on Sept. 6, showing “extreme fear,” a seven-point drop from the day prior that pinned sentiment at “fear.”
It’s the lowest score and price since the index hit 20 on Aug. 8 and the first time it has re-entered the “extreme fear” zone since Aug. 12, when the index hit 25.
