Fear & Greed Index At 18-Month Low
SEC's Gensler Talks Ethereum ETFs and Crypto Regulation, VanEck's New Filing Hints At Ethereum ETF Launch As Early As Next Week
Yesterday, the Crypto Fear and Greed Index, measuring the overall market sentiment starting with Bitcoin and other cryptos, has dropped to an 18-month low of 30. Today it's at 46.
The Fear zone is between 24 and 50. The index is based 25% on volatility, 25% on trading volume, 10% on Bitcoin's dominance, and 10% on trends.
Last time the index was this low was on January 11th, 2 months after the FTX collapse when Bitcoin sat at $17,200
This sentiment is amid massive outflows from Bitcoin ETFs, and largely caused by Mt. Gox potentially preparing to start repaying $8.5B of Bitcoin to creditors, and Germany selling Bitcoin reserves.
However, people like Galaxy Digital executive Samson Mow think that the market may be overreacting about the two happenings.
The uncertainties about the ongoing finalization of the Ethereum ETF launch are likely adding to the sentiment. VanEck’s just submitted a new 8-A filing causing speculation, and the SEC’s Gary Gensler publicly discussed the processes.
Market Update
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