Update (Feb. 25, 2:50 am UTC): This article has been updated to add further background information.
Crypto sentiment has nosedived over the past 24 hours alongside a broader market decline as US President Donald Trump reiterated that his planned tariffs against Mexico and Canada were “going forward.”
The Crypto Fear Greed Index , which rates market sentiment out of a total possible score of 100, fell to a score of 25 points on Feb. 25 — signaling “Extreme Fear.”
It’s a drop of 24 points from a day earlier when the index was at a score of 49, showing the market was “Neutral.”
The market drop comes as Trump said at a Feb. 24 news conference with French President Emmanuel Macron that his planned 25% tariffs on Canada and Mexico “are going forward on time, on schedule.”
Trump first unveiled the tariffs on Feb. 1, which lumps a 25% tax on imports from the two countries — except Canadian energy, which would be hit with 10% tariffs. Imports from China would also be subject to 10% tariffs.
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Trump (right) speaking at a press conference with Macron (left) at the White House. Source: The White House/Youtube
In the days after the announcement, Bitcoin ( BTC ) fell from around $105,000 to around $92,900 and over $2.2 billion worth of Ether ( ETH ) was liquidated with traders apprehensive of a looming trade war as Canada’s and Mexico’s leaders promised to launch retaliatory tariffs on the US.
Days later, on Feb. 3, Trump agreed to pause the tariffs for 30 days after Canada and Mexico agreed to boost border protections. Now he’s saying they’re on schedule to resume when the pause lifts early next month.
The crypto markets have tumbled on Trump’s other tariffs, too. Bitcoin stumbled on Feb. 9 after the President said he was slapping a 25% tariff on aluminum and steel imports and again on Feb. 13 when he signed an executive order for sweeping reciprocal tariffs .
The last time the crypto sentiment tracking index hit “Extreme fear” — which is a score of 25 or lower — was on Sept. 7, when Bitcoin fell to around $54,000 after having fallen 7% over the previous two days.
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Crypto sentiment index scores over the past 12 months. Source: alternative.me
Bitcoin has fallen 4.5% over the last 24 hours to under $92,000 — its lowest price since late November, according to CoinGecko.
The wider crypto market has also tumbled over the last day, with its total market value falling nearly 8% from over $3.31 trillion to around $3.09 trillion.
The wider US market has also seen a dip, with the SP 500 having fallen by 2.3% in the last five trading days, while the Nasdaq Composite has dropped 4% over that same time.
