The cryptocurrency market sentiment has reverted to "Fear" as the Fear and Greed Index (FGI) dropped to 27, following increased outflows from Bitcoin and Ethereum ETFs. Despite Bitcoin (BTC) gaining 1% to $90,913 and Ethereum (ETH) rising 0.1% to $3,114, the overall market mood remains cautious.
The decline in confidence is attributed to heightened selling pressure from institutional investment products, with both BTC and ETH ETFs experiencing faster-than-usual outflows. This trend, coupled with rising geopolitical tensions, has contributed to a risk-off attitude among investors, leading to a choppy market environment.
The total crypto market cap stands at $3.19 trillion, but liquidations have surged to $236 million in the past 24 hours, underscoring the market's volatility. Traders are advised to remain vigilant, monitoring macroeconomic factors and on-chain data as the market navigates through this period of uncertainty.
Crypto Market Sentiment Dips to Fear Amid Rising ETF Outflows
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