The crypto market's fear and greed index has fallen to a record low, with market sentiment remaining depressed.

Data shows that the Crypto Fear & Greed Index fell to 5 on February 12, hitting an all-time low, reflecting the continued deterioration of crypto market sentiment over the past few months. Even though institutional funds continue to invest in the DeFi sector, overall risk appetite has clearly declined. This index measures market sentiment by combining indicators such as market volatility, momentum, social media activity, market dominance, and search trends, with a value range from 0 (extreme fear) to 100 (extreme greed). The current reading indicates that the market has entered the extreme fear zone. Analysts believe that the continued weakening of sentiment is closely related to October 10, 2025 (the "10/10" event). On that day, the crypto market experienced its largest liquidation event in history, with over $19 billion in leveraged positions forcibly liquidated within 24 hours, affecting over 1.6 million accounts. Bitcoin fell by approximately 14% that day, while altcoins experienced even more dramatic declines, exposing insufficient liquidity and high-leverage structural risks in the derivatives market. Market confidence has not yet fully recovered.