‘Extreme Fear’ Hits Bitcoin for the First Time in 3 Months as BTC Plummets

Alternative.me’s Bitcoin Fear and Greed Index fell to 25, its first extreme-fear reading since Aug. 5, as the cryptocurrency’s price dropped. The index ranges from 0 for extreme fear to 100 for extreme greed and draws on market volatility, momentum, volume, social-media bias and Bitcoin’s dominance over altcoins. Bitcoin had fallen from $81,000 to $76,000 after a Binance hack, then moved sharply around US midterm results and a Thursday Wall Street crash, hitting $74,800 on Friday, its lowest since an August breakout, before rebounding to $76,000. The last time the gauge was this low, Bitcoin broke out in the following weeks.