The Fear and Greed Index fell to 30 from 51 following the Binance hack and renewed pressure on the Bitcoin market. Bitcoin dropped 4% to 5%, touching a six-week low near $76,500, while Ethereum fell below $2,200 and more than $1.6 billion in positions were liquidated. Binance froze $3 billion of the $6.3 billion stolen, with the remainder expected to be covered by its SAFU fund. Meanwhile, more than 23,600 BTC moved off exchanges, and Coinbase’s Premium Index reached a four-year low, with DTCC observing 23,600 bitcoins showing significant cumulative interest and suggesting a possible accumulation phase. If Bitcoin holds the key $73,000 support level, market sentiment could gradually recover ahead of major macroeconomic events.
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