These days, the Bitcoin market sentiment is really poor. Looking at the Coin Greed Index, most of the past year has been dominated by fear, but recently it’s been plunging into an even more extreme fear phase. The market sentiment indicator I checked yesterday also leaned toward the bearish side.

The fact that the Coin Greed Index remains this low suggests that investors’ confidence is quite suppressed. Throughout last year, fear levels hovered around 30%, and now that’s becoming even more intense. Usually, when such extreme fear persists for a long time, some changes tend to occur in the market, but it’s uncertain when those changes will happen now.

Personally, I think it’s important to keep an eye on indicators like the Coin Greed Index to monitor the market trend. Since extreme fear continues, it’s necessary to watch which direction the market will move.