Crypto 'Fear-Greed Index' falls to 83, with major cryptocurrencies down from previous day as sentiment worsens

Crypto data provider Alternative's self-assessed "Fear-Greed Index" fell five points from the previous day to 83. Fear worsened, but the extreme greed phase persisted. The index is a measure of extreme fear in the market, with readings closer to zero indicating extreme fear and readings closer to 100 indicating extreme optimism. 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, $22.1 billion worth of bitcoin options are set to expire on March 15, according to crypto options exchange Deribit. The put/call ratio is 0.79, and the max pain (the price at which most option buyers lose their premium) is $66,000. At the same time, $12.9 billion worth of Ethereum options expire. The put/call ratio is 0.7 and the Max Pain price is $3600.