Crypto Fear Index Hits Historic Lows as Bitcoin Slumps 7.5%

The cryptocurrency market is currently gripped by extreme panic as the Crypto Fear and Greed Index plummeted to a historic low of 5 out of 100. This record-breaking sentiment shift follows a significant 7.5% decline in Bitcoin's price against the U.S. dollar over the past week. Technical indicators are further exacerbating investor concerns, with the Relative Strength Index (RSI) approaching levels typically reserved for major market collapses. Market analysts note that such extreme capitulation levels often precede high volatility and potential further downside in the immediate term. The broader crypto ecosystem, including major assets and related equities, remains under intense pressure. While some contrarian investors view this as a potential bottom, the prevailing technical outlook suggests a cautious approach is warranted.