Crypto Markets Linger In Extreme Fear Territory
Crypto market sentiment remains in extreme fear territory even as Bitcoin recovered from Friday’s low of $60k. Crypto market sentiment was also pressured by reports of Chinese regulators advising financial institutions to curb holdings of U.S. Treasuries citing concerns over concentration risk as well as market volatility.
The CMC Fear and Greed Index, a proprietary tool developed by CoinMarketCap to measure the prevailing sentiment in the cryptocurrency market is just tad above the year-low of 5 (extreme fear) recorded on Friday. The index is currently at 9 versus 8 a day earlier.
Overall cryptocurrency market capitalization is currently at $2.36 trillion, losing 2.6 percent in the past 24 hours. The 24-hour trading volume has also…
