The recent theft incident involving Bybit and others may have an impact on the entire cryptocurrency market, triggering panic in the market and leading to a decline in investor confidence in cryptocurrencies. However, after Bybit was hacked, the Fear and Greed Index did not drop significantly, which is a phenomenon worth exploring. On one hand, the market may have developed a certain level of tolerance for similar events. The cryptocurrency market has experienced multiple hacking incidents in the past, and over time, investors' reactions to such sudden events are no longer as intense as they once were. On the other hand, the current market is highly focused on positive factors such as the approval of the LTC coin ETF, and these optimistic expectations have, to some extent, offset the negative impact of the Bybit incident, preventing excessive panic among investors. Additionally, the structure of investors in the cryptocurrency market is gradually diversifying; some long-term and institutional investors may pay more attention to fundamentals and long-term trends, and are less likely to easily change their investment strategies due to short-term sudden events, which also stabilizes market sentiment and keeps the Fear and Greed Index relatively stable.