Market Sentiment
The current Fear & Greed index is at 75 points, indicating a state of greed. The core characteristics of this sentiment include high investor confidence, significant FOMO effects, driven by Bitcoin's price breaking historical highs, continuous institutional inflows into Ethereum ETFs, and heightened expectations of interest rate cuts from the Federal Reserve. These factors collectively reinforce risk appetite and prevent short-term panic selling.
Market Overview
The latest price of Bitcoin is $118,834.00, down about 4.00% in the last 24 hours, mainly due to short-term profit-taking and inflation concerns triggered by higher-than-expected PPI data from the Federal Reserve. The latest price of Ethereum is $4,694.10, down about 3.50% in the last 24 hours, with volatility stemming from high leverage adjustments in the derivatives market and Bitcoin-led spillover effects.
On-Chain Focus
In the past 24 hours, the most significant on-chain events include the transfer of 339,175,331 USDC (valued at $339,119,876) from an unknown wallet to Binance, suggesting a potential large transaction or liquidity injection; additionally, a whale address deposited $3.36 million USDC into HyperLiquid to open short positions on Bitcoin, Ethereum, and Solana with leverage of 40x, 10x, and 20x respectively, indicating hedging intentions.
Institutional Trends
Bitcoin spot ETFs saw a net inflow of $86.90 million yesterday, while Ethereum spot ETFs had a net inflow of $729.10 million. These capital flows directly enhance market liquidity, alleviating short-term selling pressure and supporting price stability; however, high inflows also amplify leverage risks, which may trigger rapid adjustments during data volatility.
Regulation and Macro
U.S. Treasury Secretary Yellen stated that she will not purchase Bitcoin as reserves, only using confiscated assets; the Federal Reserve's PPI rose to 3.3%, higher than expected, reinforcing inflationary pressures. Japan is enhancing regulation of crypto assets, including laws on insider trading and token audits. These events increase policy uncertainty in the short term, dampening speculative enthusiasm, but easing expectations still support risk assets.