Crypto Fear and Greed Index Plunges to March 2020 Low

Market sentiment plunged to levels unseen since the pandemic crash on Thursday, as the widely-watched Crypto Fear and Greed Index fell to a reading of 5. This marks a dramatic drop into “Extreme Fear” territory, a zone the market has occupied throughout February. The index previously hovered between 3 and 5 during the March 2020 COVID-19 panic that devastated cryptocurrency prices.

However, Bitcoin’s price showed slight resilience, climbing back above $67,000 with a 0.8% gain in the last day. Retail sentiment on the Stocktwits platform actually flipped to ‘bullish’ from ‘bearish’ over the same period, despite the broader fear gauge. Chatter about the asset also remained at ‘high’ levels among traders.

Consequently, an ongoing poll on Stocktwits reveals a more cautious longer-term outlook from the crowd. The majority of respondents believe Bitcoin will crash below $50,000 in the next three months, while others expect choppy trading between $50,000 and $80,000. Only 19% forecast a climb above recent highs, with a mere 10% anticipating a new all-time high.

Meanwhile, the altcoin market continues to struggle significantly in 2026. Excluding Bitcoin, the altcoin market value has fallen around 21% this year, with Ethereum accounting for a bulk of that decline. ethereum’s price is currently trading below $2,000, down over 33% year-to-date. Bitmine Immersion Technologies chairman Tom Lee suggested the leading altcoin could see a V-shaped recovery, with a potential bottom forming at $1,890.

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