The panic index has fallen to 23, and the crypto market sentiment remains low.

[Coin World] On December 2nd, market sentiment continues to fall. The latest data from the Alternative platform shows that today's Crypto Assets Fear and Greed Index has slipped to 23, down one point from yesterday's 24. Looking at it over the past week, last week's average stood at 20, and the entire market is still enveloped in “extreme fear.”

How is this panic index calculated? Its range is from 0 to 100, with smaller numbers indicating more panic in the market. Specifically, the index is composed of six dimensions: market volatility accounts for 25% weight, trading volume also 25%, social media discussion heat 15%, market research data 15%, Bitcoin market capitalization share 10%, and Google search trend analysis 10%.

From the data over the past few days, market sentiment has not shown much improvement in the short term, and investors are in a strong wait-and-see mood.