-
The crypto market has been flashing one of the most panicked signals it has ever printed. The sentiment-tracking fear and greed index, as assessed by CoinMarketCap as well as other crypto data providers, reached an all-time low of 5 on Feb. 5, indicating extreme fear. As of Feb. 18, it's at 12, another extraordinarily low readout that is almost never seen because of the intensity of the bearishness it signals. Meanwhile, Bitcoin, Ethereum, and XRP have all taken a severe beating alongside the broader crypto market's decline.
The temperature is not the forecast
First, let's get some clarity about what the fear and greed index actually is and what it does. It has a range of 0 to 100, with the higher end of the spectrum signifying...