Crypto analyst Darkfost said market sentiment deteriorated sharply within a single day, with the Fear & Greed Index dropping from 51, a neutral reading, to 30, which signals fear. The move marked the lowest level since mid-August. Over the same period, Bitcoin fell about 4% to 5% in 24 hours and briefly touched a six-week low near $76,500, while Ether slipped below $2,200. Total liquidations across the broader crypto market exceeded $1.6 billion over the past day.
Darkfost added that periods of pessimism have historically coincided with accumulation opportunities, but said the current reading of 30 still reflects fear rather than extreme fear, which would require a level below 25. In his view, sentiment may remain under pressure. He also said the latest sell-off was partly triggered by the $6.3 billion Binance hack incident, rather than being driven entirely by a clear deterioration in market fundamentals.
Odaily reported that crypto analyst Darkfost said market sentiment worsened sharply in a single day, with the Fear & Greed Index falling from 51, a neutral reading, to 30, a fear reading. That marked the lowest level since mid-August.
In price action, Bitcoin fell about 4% to 5% over the past 24 hours and briefly touched a six-week low near $76,500. Ether dropped below $2,200. Across the broader market, total liquidations topped $1.6 billion in the same 24-hour period.
Darkfost said periods of market pessimism have historically often aligned with accumulation opportunities. Still, he noted that a reading of 30 indicates fear, not extreme fear, since the latter would require the index to fall below 25. He said sentiment could remain under pressure.
He also said this round of declines was partly triggered by the $6.3 billion Binance hack incident and was not entirely the result of a clear deterioration in market fundamentals.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
