Crypto Fear and Greed Index Near FTX and Covid Crash Lows

Crypto Fear and Greed Index During Historic Market Crashes

The digital asset market is currently feeling a level of stress that we have not seen in years. As of late February 2026, the crypto fear and greed index has dropped deep into "Extreme Panic" territory. The index recently hit a very low score of 13 out of 100. This score shows that investors are very worried about the market. In fact, these levels are now similar to the risk aversion seen during the collapse of FTX and the 2020 COVID-19 pandemic crash.

Source: Coinglass Crypto and Greed Index

When the crypto Panic and greed index hits these lows, it often reflects high volatility and falling prices. Today, Bitcoin is trading around $64,791, down over 5% in just one week. While many people are rushing to sell, some experts believe this extreme risk aversion might actually be a sign of a market bottom.

Historical Comparison: The Crypto and Greed Index and Major Crashes

To understand today's market, we have to look back at other big crashes. Historically, "Extreme Fear" has appeared during the most uncertain times in digital asset history.

How Fear Cycles Shape the Market

Analysts often note that when the crypto fear and greed gauge stays low for a long time, it can signal a buying opportunity for long-term holders:

The COVID-19 Crash (March 2020): During this time, global markets fell sharply, and Bitcoin's fear gauge hit record lows.

The FTX Collapse (November 2022): When a major exchange failed, the industry felt "Extreme Fear" for a long period.

Today's Market (February 2026): Current data suggests that risk aversionis even higher now than during those previous crises.

Source: CoinMarketCap Data

What Drives the Fear Gauge?

The crypto index looks at several factors to see how people are feeling:

Market Volatility: Sharp price drops cause the index to fall toward panic.

Trading Volume: A massive rise in selling volume often signals panic.

Social Media Sentiment: Analysts track how many people are posting "bearish" or negative news online.

Bitcoin Dominance: A rising dominance level can indicate capital rotating away from altcoins into perceived safer assets.

Expert Analysis: Panic as an Opportunity

Market experts say that while the current mood is dark, it follows a familiar pattern. Long-term investors often see "Extreme Panic" as a time when the sector is oversold. While short-term prices are uncertain, the actual use of the Bitcoin network remains strong. The current 24-hour trading volume has jumped by over 68%, reaching nearly $30 billion. This shows that while many are selling, there is still a lot of activity in the sector.

Future Outlook

In the coming weeks, investors will be watching to see if the crypto and greed index starts to climb back up. Historically, after periods of deep panic, the market has often staged a recovery. For now, the sentiment remains at a score of 13, which is a clear sign that the industry is in a "high-tension" zone. Whether this leads to a new rally or more falling prices remains to be seen.