Recent events like the Bybit hack could have an impact on the entire cryptocurrency market, triggering panic among investors and leading to a decline in confidence in cryptocurrencies. However, after the Bybit hack, the fear and greed index did not drop significantly, which is worth further investigation. On one hand, the market may have developed a certain level of tolerance for similar incidents. The cryptocurrency market has experienced multiple hacking events in the past, and as time goes on, investors' reactions to such sudden events are no longer as intense as they once were. On the other hand, the current market is paying a lot of attention to positive factors like the approval of the LTC coin ETF, and these optimistic expectations have somewhat offset the negative impact of the Bybit incident, preventing excessive panic among investors. Additionally, the investor structure in the cryptocurrency market is gradually diversifying; some long-term investors and institutional investors may focus more on fundamentals and long-term trends, not easily changing their investment strategies due to short-term events, which also stabilizes market sentiment, keeping the fear and greed index.