📉Crypto Fear & Greed Index hits 18-month low, reflecting a shift in market sentiment. Bitcoin dips below $60k, its lowest since May. But hey, don't panic! 😎

• The index plunged 21 points, landing in the "Fear" zone at 30, down from 74 (Greed zone) last week.

• Bitcoin also saw a 4% price drop, hitting a seven-week low of $58,400 before bouncing back. Currently, it's trading at $61,115.

Factors causing the fear surge:

• Significant outflows from Bitcoin ETFs in the past 10 days.

• Reports of Mt. Gox exchange preparing to liquidate $8.5 billion worth of BTC, adding to the uncertainty.

Despite the fear, experts suggest it might be an overreaction. Samson Mow from Galaxy Digital says the dip is driven by sentiment and fear, not by large holdings being sold off.

So, what's your take on this? Is the market overreacting or is it a sign of things to come? Share your thoughts below! 👇 #Bitcoin #CryptoMarket