Cryptocurrency Market Sentiment Shifts To Fear

According to BlockBeats, on October 2, data from Alternative indicates that the cryptocurrency Fear and Greed Index has dropped to 42 from 50 the previous day. This shift marks a change in market sentiment from 'neutral' to 'fear.' The Fear and Greed Index, which ranges from 0 to 100, is composed of several indicators: volatility (25%), market trading volume (25%), social media activity (15%), market surveys (15%), Bitcoin's dominance in the market (10%), and Google Trends data (10%). This index is used to gauge the overall sentiment of the cryptocurrency market, with lower values indicating fear and higher values indicating greed.