Ethereum is 10x better, 10x worse
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The current streak of extreme fear is already the longest ever in crypto history, and it’s continuing on still. Here’s a recap of the major events responsible for this bottom sentiment. Crypto Fear And Greed Index Continues To Point At “Extreme Fear” The “fear and greed index” is an indicator that tells us about the general market sentiment among crypto investors. The metric uses a numeric scale that runs from zero to hundred for representing this sentiment. All values below the fifty mark imply a fearful market, while those above the threshold mean investors are greedy right now. End values of above 75 and below 25 indicate extreme sentiments of “extreme greed” and “extreme fear,” respectively. Now, here is a chart from the latest weekly report from Arcane Research, that shows the trend in the crypto fear and greed index over the past year: Looks like the value of the indicator has been very low in recent weeks | Source: Arcane Research’s The Weekly Update – Week 25, 2022 As you can see in the above graph, the current value of the crypto fear and greed index is 10, which suggests the market is extremely fearful at the moment. This run of extreme fear has been going on since more than two months now, and it’s the longest ever such streak in the history of the metric. Related Reading | What Is Bitcoin CFD and How Can It Make You a Profit Even before this latest run of extreme fear, the market sentiment wasn’t particularly well during the rest of 2022. However, it wasn’t still quite as rock bottom as the current streak. So, what’s behind this historically low sentiment? There are a number of market conditions that have lead to it and that are continuing to keep it so. The first event of note is the UST collapse in May. A large stablecoin like Tether USD losing its peg put fear and uncertainty into many investors in the market. Another is the looming macro uncertainties over the market like the possibility of FED hiking rates and the various governments around the world tightening regulations. Related Reading | Bitcoin “Reserve Risk” Metric Approaches All-Time Lows These above factors snowballed into a bottom sentiment and lead to larger consequences over the entire crypto market in the form of the crash. A byproduct of the latest crash was the collapse of Three Arrows Capital (3AC), a cryptocurrency hedge fund. Another was the lender company Celsius halting withdrawals and potentially heading towards bankruptcy. Such negative news is keeping the fear and greed index from recovering from these historic lows. Like a vicious cycle, bad news is leading to more bad news and further fueling the extreme fear sentiment. BTC Price At the time of writing, Bitcoin’s price floats around $20k, down 1% in the past week. BTC plunges down | Source: BTCUSD on TradingView Featured image from Kanchanara on Unsplash.com, charts from TradingView.com, Arcane Research
Eminem and Snoop Dogg switched between themselves and their Bored Ape Yacht Club characters in their newest music video.
The Thing is, i don't really do it often myself. But beeing in this sub where everyone is pro crypto and everything you say pro crypto is getting upvoted to the moon. That's the echo chamber for you. Go check out Some specific coin subs. Echo Chambers in it's definition. It won't hurt to read…
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Let us discuss about how important data is and how a Web3 Protocol can help people monetise it OP Onda has took off on all top notch blockchains. It took lots of hard work and time to build V4 You can visit the web to use it and monetise your data,it can be anything Its…
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Bitcoin and altcoins gave up the gains of last week’s relief rally and June 29’s dip below $20,000 suggests bears are intent on pushing the market back to its yearly lows.
So says the agency in a recent report. They add that, in order to unfold their potential, it is necessary that they first solve structural problems, for example, the security of smart contracts. For these reasons, we have more and more DAO protocols inspired by Yearn Finance and, based on the profits, projects such as…
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