Today, market sentiment has shifted from greed to neutral. The main reason is that Ethereum reaching a new high has made people quite optimistic, but a large holder sold a lot of Bitcoin, leading to many long liquidations, so the price dropped. An old Bitcoin holder exchanged their coins for a lot of Ethereum, as they are optimistic about ETH. Institutions are selling ETFs.

Market Sentiment

The current Fear and Greed Index is at 53, shifting from greed to neutral. The core characteristic of market sentiment is the intense division in high-stakes speculation. The driving factors stem from the optimistic sentiment brought by Ethereum reaching an all-time high, contrasted with the panic caused by whale selling Bitcoin, which triggered large-scale long liquidations, resulting in the market temporarily losing a clear direction.

Market Overview

BTC is currently priced at $112,493.12, down 2.55% in 24 hours; ETH is currently priced at $4,696.61, down 2.19% in 24 hours. The main trigger for this price fluctuation was a whale selling 24,000 Bitcoins worth over $2.7 billion, which directly triggered a market chain reaction, leading to over $350 million in long positions being liquidated, causing the price to rapidly retreat from its peak.