[Analysis: Extreme Market Fear May Signal an Imminent Turning Point] BlockBeats News, February 17, according to a report by Cointelegraph, the current crypto market sentiment has plunged to an 'extremely depressed' level, potentially nearing the formation of a 'sustainable bottom,' with selling pressure possibly gradually weakening. The Bitcoin 'Fear and Greed Index' indicates that when the 21-day moving average crosses back above the zero line after falling below it, it often corresponds to a phase bottom, and a similar signal has now appeared. This typically suggests that selling momentum is diminishing and market conditions are beginning to stabilize. However, the institution also cautions that prices could still dip further in the short term, but historical experience shows that periods of extreme negative sentiment often provide relatively attractive entry opportunities. Meanwhile, the 'Fear and Greed Index' compiled by Alternative.me reads 10 (out of 100), placing it in the 'extreme fear' range, the lowest level since June 2022. Hive Chairman Frank Holmes stated that Bitcoin's current price is approximately two standard deviations below its 20-day moving average, a situation that has occurred only three times in the past five years. Historical data shows that in similar extremely oversold conditions, a technical rebound is more likely to occur within the subsequent 20 trading days. If Bitcoin closes February with a loss, it will mark the fifth consecutive month of decline, one of the longest losing streaks since 2018. The market is closely watching whether extreme sentiment and technical oversold signals will jointly drive the formation of a new turning point.