The Cryptocurrency Fear and Greed Index, a measure of sentiment in the Bitcoin and cryptocurrency markets in general, fell to its lowest level in 18 months. 😮

On June 24, the index fell by 21 points, entering the “Fear” zone. The last time such indicators were observed was 7 weeks ago, on May 3, but the index has not dropped below 30 since January 11, 2023, when Bitcoin was trading at just $17,200.

Bitcoin is currently trading at $60,300 after falling to a 7-week low on June 24. The negative sentiment was driven by outflows from Bitcoin exchange-traded funds, news of a possible sale of $8.5 billion of Bitcoin to Mt. Gox and the sale of part of Bitcoin reserves by Germany.

However, the head of the investment company Galaxy Digital believes that the market is slightly overestimating the situation around Mt. Gox.