The data shows that cryptocurrencies are expected to end the shortened trading week in "extreme fear."

CoinMarketCap's "Cryptocurrency Fear and Greed Index" is expected to end this shortened trading week in "extreme fear" among investors. The index currently scores a 19 out of 100, which falls right on the border between "fear" and "extreme fear". Earlier this week, the index did indeed enter the "fear" zone, but selling pressure following hawkish comments from new Fed Chair Wash dragged down cryptocurrencies. CoinMarketCap's data also shows that funds continue to flow out of so-called "altcoins", which are cryptocurrencies traded on exchanges other than Bitcoin and stablecoins. CoinMarketCap reports that the total market capitalization of altcoins, after experiencing a brief uptick, is slightly above $900 billion.