The crypto fear and greed index, which measures market sentiment for Bitcoin and the overall cryptocurrency market, has fallen to its lowest level in the last 18 months. 😱 This comes after Bitcoin fell below $60,000. On June 24, the index dropped 21 points and entered the "Fear" zone with 30 points. 📉 This marks one of the steepest daily declines in recent years and a change from where it was in the “Ambition” zone with 74 points a week ago. Bitcoin has also experienced a dramatic price drop of more than 4% in the last 24 hours.

Many factors have contributed to this increase in fear. Over the last 10 trading days, spot Bitcoin exchange-traded funds have experienced significant outflows exceeding $1 billion. Also, the bankrupt Mt. Reports that the Gox exchange was preparing to liquidate $8.5 billion worth of BTC to its creditors added to the uncertainty. 🤔

However, some experts believe the market's reaction may be exaggerated. Samson Mow, an executive from Galaxy Digital, addressed the situation on

So what do you think? Is the market really exaggerating, or is there more behind this decline? We are waiting your comments! 💬