According to Binance market data, the cryptocurrency fear and greed index has dropped to 45 today, down from 57 yesterday, indicating a rapid cooling of market sentiment into the 'fear' range. This marks the first time since April 22 that the index has fallen into this category.
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 market dominance (10%), and Google search trends (10%).
