Crypto Fear & Greed Index hits lowest level in over two years as Bitcoin falls below $85,000

The Crypto Fear Greed Index, a key Bitcoin and crypto sentiment tracker, has dropped to its lowest level in over two years as Bitcoin fell below $90,000. On Feb. 26, the index reached a score of 10, indicating "Extreme Fear." This marks the lowest level since June 2022, coinciding with the downfall of Three Arrows Capital and the collapse of Terraform Labs' tokens. The drop in sentiment has been attributed to heightened macroeconomic uncertainty, with Bitcoin trading at $84,408 at the time of publication. Analysts suggest that the current market conditions could present a buying opportunity for crypto investors, as global liquidity levels have been rising week-on-week.