Bitcoin saw its price crash toward $60,000 last week, and naturally, investor sentiment took a plunge with it. Now, while the sentiment has been in a decline for the better part of five months, what stands out this time is how low the score on the Bitcoin Fear & Greed Index has gotten. In fact, the sentiment surrounding the crypto market has dropped so low that it has gotten to a point that has only been hit twice in the history of Bitcoin.
Bitcoin Fear & Greed Index Crashes To 9
Since hitting its all-time high of $126,000 back in August 2025, the sentiment has been ping-ponging, but now, it seems to have determined a direction. The trend has been mainly downward, and then last week, the index dropped to a low of 9.
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The Bitcoin Fear & Greed Index tracks the sentiment across the market using a number of factors, such as social sentiment and volume, among others. Thus, it gives a rather comprehensive view of how investors are feeling toward the market. The index ranges from 1-100, with 100-75 being Extreme Greed, 74-54 being Greed, 53-47 being Neutral, 46-26 being Fear, and 25-1 being Extreme Fear.
Presently, the market is sitting in Extreme Fear, which means that investors are wary of getting into the market. More importantly, though, the last two times that the market sentiment was this low were the 2018-2019 bear market and then the FTX crypto exchange crash back in 2022.
What’s interesting about these two different posts in history is what followed after the sentiment dropped this low. The initial reaction to this seems to be very similar, with a long accumulation trend following each time. Usually, this trend lasts for a few months, suggesting that the market is using this time to build up momentum.
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However, like clockwork, there has been a steady upward move, meaning that sentiment this low could mark the end of the bear market. This then leads to the start of the bear market, and by the next year, the price is often hitting new all-time highs.
Using this trend, it is likely that the Bitcoin price has hit or is close to hitting its bottom. In that case, a long period of accumulation could be the next course of action, and this could inevitably lead to the start of the next bull market. However, it is important to keep in mind that there have been points where Bitcoin has deviated from its set historical trend as new investors and macro factors begin to affect the financial markets.
Featured image from Dall.E, chart from TradingView.com
