The Crypto Fear and Greed Index fell to 24 on January 21, 2026, signaling a sharp return to extreme fear after briefly entering greed territory last week.
Market sentiment has deteriorated sharply as cryptocurrencies face another major drawdown amid escalating geopolitical tensions.
BeInCrypto reported earlier this week that President Trump’s tariff threats against the European Union sparked a wider market sell-off, weighing heavily on risk assets. The pressure intensified on Tuesday.
Speaking at Davos, US Treasury Secretary Scott Bessent reaffirmed the Trump administration’s readiness to deploy tariffs as a primary geopolitical tool, a stance that further unsettled global markets.
BeInCrypto Markets data showed that Bitcoin (BTC) fell below the $90,000 level, even briefly dipping under $88,000. Ethereum (ETH) also dropped under $3,000.
The overall sell-off erased more than $120 billion from the total cryptocurrency market capitalization over the past 24 hours.
Derivatives markets reflected the severity of the move, with widespread forced liquidations. More than 182,000 traders were liquidated in the past day, pushing total liquidations to $1.08 billion. Long positions accounted for $989.9 million of the losses.
The sharp sell-off has also weighed heavily on investor sentiment. The Crypto Fear and Greed Index dropped to 24 today. This marks a return to extreme fear after the market reached greed territory at 61 just last week, on January 15.
The index provides a broad snapshot of crypto market psychology. It aggregates data from multiple factors, including volatility, market volume and momentum, social media activity, Bitcoin dominance, and Google Trends.
In a post on X (formerly Twitter), analyst Rex said investor interest in the sector has deteriorated to the point of widespread apathy. The current mood seems even more worrying because it’s driven not only by price but by growing disillusionment with crypto’s long-term narratives.
The analyst noted that even long-time crypto participants are increasingly shifting their focus to stocks and commodities. This indicates a loss of confidence rather than just a temporary lull.
"No one wants to make angel investments in this space, no one believes any of the bullshit narratives.. No one cares anymore. It literally can't get any worse for sentiment than right now.. Bottom of the COVID crash people still believed in this industry, what we have now is worse," the post read.