The BTC fear and greed index is close to extreme fear, and calls to sell on social networks are at highs.
The index of fear and greed of the main cryptocurrency has already dropped to 29. It continues to update local minimums, being at the levels of September 2023. Then, let us remind you that after the August dump on two fake news (on#SpaceXand #Evergrande) the bulls were in frustration, the chart did not show interest buyers, and the market clearly lacked narratives for growth. Until the Bitcoin spot ETF narrative emerged. Now the situation is similar.#Santimentanalysts note "historic levels of FUD" on social media - the last 24 hours had the highest ratio of negative to positive comments in 2024. Even before today's dump, yesterday, July 4 at 13:00 UTC, was the highest ratio of sell calls to buy calls in a year. The crowd sells and calls for selling.
What’s interesting is that #CryptoQuant, focusing on the Daily Realized Profit Loss Ratio, shows that there is still no peak of panic in the market, it will begin when the orange bars appear. And this leads us to expect that there will not be a V-shaped turn, at least for now.
