According to BlockBeats, the cryptocurrency Fear and Greed Index has decreased to 31, indicating a heightened sense of 'fear' in the market. This marks a significant drop from the previous day's index of 45. The Fear and Greed Index, which ranges from 0 to 100, is calculated based on several factors: volatility (25%), market trading volume (25%), social media activity (15%), market surveys (15%), Bitcoin's dominance in the market (10%), and Google search trends (10%).