Fear has taken hold of the cryptocurrency market. Bitcoin is sitting near $67,000, well below where it stood late last year, and a closely watched sentiment tracker is flashing some of its most alarming readings on record.

The Crypto Fear and Greed Index, which pulls together data from trading volumes, price swings, social media activity, market momentum, and Bitcoin’s share of the overall crypto market, has dropped to somewhere between 5 and 8 in recent days. Numbers that low are rare.

The last time readings were this bleak was during some of the worst crashes the crypto market has ever seen.

A crypto veteran calls Bitcoin a dead end

While ordinary investors are running scared, a well-known figure in the blockchain world has…