On July 14, the crypto market entered a state of Extreme Fear, as indicated by the Fear and Greed Index, which printed a score of 22. This reflects a significant downturn in investor sentiment.
As a result of this fear, the total market capitalization of cryptocurrencies has decreased to $2.23 trillion, showcasing the overall decline in market confidence.
Bitcoin, the leading cryptocurrency, has seen its price slide to $64,875 as of July 15, further contributing to the market's bearish outlook.