The crypto market is experiencing a sell-off, with bitcoin and major altcoins losing value. Dogecoin and Cardano's ADA are among the biggest losers, with a 10% drop in the past 24 hours. The crypto fear and greed index is at a multi-year low of 17, indicating extreme fear in the market. The index measures investor sentiment and serves as a contrarian indicator. The market had initially seen gains after President Donald Trump announced a strategic crypto reserve, but these gains have now been fully pared. The recent White House Crypto Summit did not produce the expected positive outcomes, resulting in further market losses. Global markets, including a weak US dollar, are also contributing to the market's decline. Traders are now waiting for macroeconomic data and decisions to determine their next moves. There is hope that the Federal Reserve will cut interest rates, which could potentially benefit the crypto market.



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