The market on December 28th is still shrouded in a sense of worry.

According to Alternative data, the Fear and Greed Index closed at 24 today, up from 23 yesterday, continuously hitting new lows. Since early November, this index has rarely exceeded the 30 threshold, remaining in a deep fear zone for nearly two months. Looking back historically, the last time such a situation occurred was during the bear market at the end of 2022.

You might be curious about how this index is calculated. Its composition is actually not complicated—the volatility accounts for a quarter of the weight, trading volume is also 25%, social media buzz is 15%, market surveys are 15%, Bitcoin's market share is 10%, and Google search trends also make up 10%. Combining these dimensions allows for a fairly accurate reflection of the collective market sentiment.