Extreme Fear index reaches 11/100, a number lower than I expected.

$ETH Currently hovering around $2,064.83, down 0.16% over the past 24 hours. Intraday range is $2,012.64–$2,092.34, with an amplitude of 3.96%, indicating relatively mild fluctuations. Trading volume is 729 million USDT, maintaining sufficient liquidity.
The key point is this extreme fear state with the Fear & Greed Index at 11/100. Historical data shows that when the index drops below 20, it usually indicates the market is overly pessimistic. During the Terra collapse in June 2022, the index reached 6, and ETH rebounded from $880 to over $2000 afterward.
The current situation has similarities: prices are relatively stable (only down 0.16%), but sentiment is extremely pessimistic. The BTC perpetual funding rate at -0.0028% indicates little pressure from long positions, and shorts are not overly concentrated.
From a technical perspective, $2,012 is yesterday’s low and a recent key support level. If the price can stabilize within this range and sentiment begins to recover from fear, a rebound window may open.
Market panic often breeds opportunities, but it requires waiting for signals of sentiment stabilization. Keep an eye on the gains and losses around the $2,000 mark, as this will determine the short-term direction.