The Fear & Greed Index for the crypto market has hit a near nine-month low at 10, indicating “extreme fear” among investors. Bitcoin’s drop below $100,000 led the market’s decline, with the largest cryptocurrency trading at levels last seen in early March.

Investor unease grew as bitcoin lost over 5% in the past week, dropping from its all-time high above $120,000. The broader crypto market, represented by the CoinDesk 20 index, also saw a 5.8% decrease in value over the week.

Factors behind the sell-off include profit-taking by long-term holders, institutional outflows, macro uncertainty, and leveraged long positions getting liquidated. The market’s downward trend is further fueled by fading hopes of an interest rate cut by the Federal Reserve this month.

Recent delays in key economic indicators release due to a government shutdown add to market uncertainty. With low liquidity after October’s crash, leading centralized exchanges show structurally lower order-book depth, increasing the risk of sharp price swings in the market.

Read more at Yahoo Finance: Crypto Market Slips Into ‘Extreme Fear’ After Bitcoin Fails to Hold $100,000 Level