Crypto market calms down? Fear and Greed Index drops to 47, wait-and-see sentiment heats up

According to the latest data released by alternative.me, the cryptocurrency "Fear and Greed Index" fell to 47 on June 23, officially returning to the "neutral" zone, ending the previous "greed" stage that lasted for nearly a week. This means that the overall market sentiment is cooling down significantly, and investors are beginning to be more vigilant about short-term risks.

Bitcoin is currently trading at about $101,262, with a daily high of $102,910 and a low of $98,460, down about 0.85% from yesterday. Over the weekend, due to the geopolitical situation in the Middle East and the return of the Fed's hawkish attitude, the bullish momentum weakened, and Bitcoin fell sharply from around $106,000. Funds flowed out of altcoins and turned to stablecoins and mainstream coins for risk aversion, and the leverage position of crypto derivatives was reduced.

Three major observation points in the crypto market:

• Macro risks interfere with the stabilization of sentiment: the unstable situation in the Middle East and the Fed's still hawkish interest rate policy have all turned market preferences to conservative.

• Technically, the pressure of high-level consolidation is increasing: Bitcoin and Ethereum have seen multiple days of upper shadows, and technical indicators show that the momentum indicators have become blunt.

• ETF fund flows slowed down: The net inflow of US spot Bitcoin ETFs has cooled significantly in the past week, indicating a lack of confidence in short-term funds.

What should investors pay attention to next?

• Short-term operations should reduce leverage and risk exposure ratios and avoid highly volatile altcoins

• Observe whether Bitcoin can hold the technical support of $63,000

• In the medium term, we still look at the progress of the US spot Ethereum ETF review and whether the Fed will turn to an easing policy this year