Recent events such as the Bybit hack will have an impact on the entire cryptocurrency market, triggering panic among investors and leading to a decrease in confidence in cryptocurrencies. However, after the Bybit hack, the Fear and Greed Index did not drop significantly, which is worth exploring. On one hand, the market may have a certain level of tolerance for similar events. In the past, the cryptocurrency market has experienced multiple hacking incidents, 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 somewhat offset the negative impact of the Bybit incident, preventing excessive panic among investors. In addition, the investor structure of the cryptocurrency market is gradually diversifying, with some long-term and institutional investors potentially placing more emphasis on fundamentals and long-term trends, and not easily changing their investment strategies due to short-term emergencies, which has also stabilized market sentiment, keeping the Fear and Greed Index relatively stable.