The Crypto Fear & Greed Index fell to 29, indicating extreme market fear, as Bitcoin's price slipped below $54,000. This sentiment reflects the most negative investor outlook since early January 2023, during the aftermath of the 2022 crypto winter, when Bitcoin was valued around $17,000. Key factors driving this downturn include significant selling by governments holding seized Bitcoin and preemptive market actions related to the Mt. Gox estate's payouts. With substantial assets still held by these bodies, continued pressure on crypto prices is expected.