The Crypto Fear & Greed Index has plummeted to 23, marking a shift into the 'extreme fear' category. This represents a six-point drop since Monday, indicating growing apprehension among investors. The index, which evaluates market sentiment through factors like volatility, trading volume, social media sentiment, surveys, Bitcoin dominance, and search trends, suggests increased caution in the market. As fear intensifies, altcoins may experience heightened selling pressure, potentially creating opportunities for long-term investors.