The market sentiment index has crashed another notch—it plunged directly to 20 today, while it was still at 23 yesterday.

What does this number mean? The crypto market has officially entered the "Extreme Fear" zone.

If you've followed the famous "Fear & Greed Index," you'll know that it actually bundles six dimensions into an emotional checkup: price volatility accounts for 25%, trading volume 25%, social media buzz 15%, market surveys 15%, Bitcoin market dominance 10%, and Google search trends 10%. A value below 20 signals "extreme fear."

So what does a 20 mean right now?

Simply put, the market is filled with panic, hesitation, and even people selling off regardless of price. No one dares to catch the falling knife—everyone is thinking: Will it keep dropping? At times like this, nine out of ten messages in trading groups are “Should I sell everything?”

But interestingly—veteran traders often perk up during these moments.

Why? Because historical data tells us that when the market is this cold and in "extreme fear," a rebound or bottom is often close. The weak hands have basically all sold, leaving only the die-hard "believers," which naturally eases selling pressure.

So the question before you now is:

Do you believe in the contrarian strategy of “be greedy when others are fearful,” and start considering building positions in batches? Or do you think “the trend is king,” and wait until market sentiment truly warms up and a clear upward signal appears before taking action?

Ethereum's technical upgrades are still progressing, institutional accumulation hasn’t stopped, and global central banks’ policy maneuvers are still unfolding. All the signals seem to hint: a major move could be just around the corner.

Share your real thoughts and strategies in the comments below.