Seventy days of straight "extreme fear" shows no end in sight as Bitcoin price action stays wedged around $20,000.
Bitcoin (BTC) may have avoided fresh losses since falling to $17,600 last month, but the sentiment is on the floor.Now, one classic crypto market mood gauge is showing just how long and hard the average investor has suffered.70 days of "extreme fear"While crypto market sentiment was already "comparable to funeral" before the start of 2022, the subsequent price drawdown in Bitcoin and altcoins produced cold feet like never before.This has now been quantified by the Crypto Fear & Greed Index, a tool that takes multiple sources into account to create an overall score of how the markets are feeling. As of July 15, Fear & Greed has spent 70 days in its lowest bracket — "extreme fear" — marking of a new bearish record.The Index consists of five such brackets, with the others being "fear," "neutral," "greed" and "extreme greed."A score below 25/100 on its normalized scare corresponds to "extreme greed," and it is that score zone that has characterized the past two months. The las