The Fear & Greed Index dropped to 20 today—extreme fear, its lowest level in over four months. The last time it was this low was July 8. Yesterday it was still at 28, so it fell 8 points in a day.

Bitcoin is now around $68,700, having fallen below the 200-day moving average. The daily RSI is just 29, technically oversold. But the index is telling a different story: the whole market is afraid, and nobody dares to buy.

What’s interesting is that when the index hits 20, historically, it’s often when others are scared out of their minds and some people start quietly counting their bullets. But I don’t want to state that too confidently, because this downturn isn’t just about sentiment. ETFs have seen $1.44 billion in outflows over five days, and stablecoin supplies are shrinking too. Money is really flowing out.

I have bills to pay every month. Keeping my position size a little smaller helps me sleep at night. Everything else is just noise.

Are you completely numb with fear right now, or waiting for the index to drop a little further before making a move?

$BTC $ETH

This is not investment advice. Make your own judgment.