Crypto market sentiment stayed in extreme fear on Friday, Dec. 26, marking the 14th straight day in that zone. The Crypto Fear and Greed Index fell three points to 20 out of 100, based on the index’s published reading.
The index’s extreme fear stretch began on Dec. 13. That makes it one of the longer runs in the zone since the Crypto Fear and Greed Index launched in February 2018, according to the same dataset.
The Crypto Fear and Greed Index uses several inputs. It measures volatility, trading volume, social media sentiment, trend data, and Bitcoin dominance to produce the daily score.
Bitcoin Trades Near 88,650 as Sentiment Sinks Below FTX Era Levels
Bitcoin traded around $88,650 at the time cited, using CoinGecko data. Even with that price, the Crypto Fear and Greed Index score sat lower than levels seen during the FTX collapse in November 2022, when the crypto market absorbed a sharp credibility shock and Bitcoin moved toward $16,000.
The report linked the broader sentiment slide to events earlier in the quarter. It said renewed US China tariff fears helped drive a sharp market move on Oct. 10, when nearly $500 billion was wiped from the crypto market.
Macro policy questions also appeared in the report. It said worries that the US Federal Reserve may pause rate cuts in the first quarter of 2026 have added pressure to sentiment. Jeff Mei, chief operating officer of crypto exchange BTSE, said last Monday that Bitcoin could fall to $70,000 if the Fed keeps rates steady.
Crypto Search Volume Falls as Alphractal Flags Lower Social Volume
Search and engagement data also weakened, according to the report. Analytics platform Alphractal said on Saturday that crypto search volume on Google, Wikipedia views, and posts and discussions on internet forums have dropped.
“Crypto social volume has returned to levels typically seen during bear markets,”
Alphractal said. It also said, “December 2025, retail investors appear discouraged, disengaged, and largely absent from the crypto market.”
The report framed this shift as a retail participation issue. It described lower retail activity alongside the continued presence of other buyer groups in the market.
Bitwise’s Matt Hougan Blames Crypto Native Retail, Cites ETF Inflows
Last month, Matt Hougan, chief investment officer at Bitwise, blamed the crypto market pullback and sentiment decline on “crypto native retail.” He described a sequence of setbacks that reduced participation.
“Crypto native retail is depressed, they were beaten down by FTX, they were beaten down by the memecoin debacle,”
Hougan said. He added that investors also faced disappointment tied to altcoins. He said they “got hurt on the 10/10 liquidation,” and he added,
“I think they’re just sitting this one out.”
In contrast, Hougan said “TradFi retail” has stayed active. He pointed to spot crypto exchange traded fund flows as a sign of ongoing demand from traditional channels. “Traditional retail, like my uncle, he’s moving into crypto, that part of retail is still alive,” he said.
The report said US Bitcoin ETFs have attracted more than $25 billion in inflows so far in 2025, even as Bitcoin posted a 5% loss year to date.
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Tatevik Avetisyan is an editor at Kriptoworld who covers emerging crypto trends, blockchain innovation, and altcoin developments. She is passionate about breaking down complex stories for a global audience and making digital finance more accessible.
📅 Published: December 26, 2025 • 🕓 Last updated: December 26, 2025
