Crypto 'Fear-Greed Index' at 26...Fear persists , CME BTC futures gap $4,060

Crypto data provider Alternative's self-estimated "Fear-Greed Index" fell eight points from the previous day to 26. The fear phase continued from the previous day as sentiment deteriorated. The index indicates extreme fear in the market when it is close to zero, and extreme optimism when it is close to 100. The Fear Greed Index is calculated based on volatility (25%), trading volume (25%), social media mentions (15%), surveys (15%), Bitcoin market capitalization (10%), and Google searches (10%).

Meanwhile, CME BTC futures, which closed the previous trading day at $62,945, opened today at $58,885, a gap of $4,060. The drop has largely filled a large gap that occurred in late July.