The crypto market’s sentiment has moved deeper into fear territory as Bitcoin and Ethereum extend their recent pullback. The Crypto Fear and Greed Index fell to 28, firmly within the fear zone. Bitcoin traded around $82,700, while Ethereum declined to approximately $2,720, with technical indicators pointing to weakened but not panicked selling.
Crypto market sentiment has slipped deeper into fear territory as Bitcoin and Ethereum extend their recent pullback. According to CoinMarketCap data, the Crypto Fear and Greed Index fell to 28, well below neutral levels. The current reading follows 34 last week and 29 a month ago, highlighting a steady erosion in confidence.
Historically, similar sentiment levels have coincided with periods of market consolidation or late-stage sell-offs. The absence of extreme fear suggests traders remain cautious but not panicked across the broader market. Bitcoin continued its downward move, trading around $82,700 after briefly dipping toward $81,000. The daily decline of roughly 2% extends a broader pullback from January highs near the $95,000–$100,000 range.
Technical indicators point to weakening momentum but not full capitulation. Bitcoin’s daily RSI sits near 31, placing it close to oversold territory, while selling pressure remains visible. Key levels to watch include immediate support around $80,000, with deeper downside risk toward the mid-$70,000 region if sentiment deteriorates further.
Ethereum has tracked Bitcoin’s decline, falling to approximately $2,720, down over 3% on the day. The asset has retraced a significant portion of its fourth-quarter rally, with lower highs forming since early January. Ethereum’s RSI near 34 reflects conditions similar to Bitcoin’s, with bearish momentum intact but not deeply oversold.
From a structural perspective, Ethereum must hold above the $2,600–$2,700 region to avoid accelerating losses. Failure to stabilize could expose downside toward $2,400, while any rebound is likely to encounter resistance near $3,000. Despite weakening sentiment, broader market signals remain mixed, with no sharp spike in volatility or liquidation-driven selling evident.
This suggests traders are reducing exposure cautiously rather than exiting aggressively. Macro uncertainty and recent market-wide drawdowns have reinforced a defensive stance, aligning more closely with consolidation under pressure.
