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According to the Fear and Greed Index, market sentiment continues to deteriorate. Yesterday was 24, and today it dropped to 23. What does this number indicate? Extreme fear.
Market participants' sentiment can be summarized in one word—bearish. No major positive news can reverse the situation; it’s stuck here. What are mainstream coins like Bitcoin and Ethereum doing? Moving sideways. Completely still. Conversely, what about the altcoin market? Falling day and night. No sign of a bottom? None found. The entire market looks like no one is willing to take over, everyone is watching and waiting.