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๐ŸŒ™ Market Anxiety Soars: Crypto Fear Index Hits New Low

Crypto Fear and Greed Index plummets to lowest since Bitcoin at $17K, indicating heightened market anxiety.

Author

Mike Gavela
July 05, 2024

Crypto Roundup - July 5

The cryptocurrency market has experienced a significant downturn, impacting various sectors. The Crypto Fear and Greed Index has plummeted to its lowest point since Bitcoin traded at $17,000 in early 2023, reflecting heightened market anxiety and investor caution. Bitcoin miners are facing potential capitulation as profits shrink due to the ongoing BTC sell-off and increasing operational costs, which could lead to a shakeout in the mining sector. Meanwhile, DeFi platform Pendle has seen its Total Value Locked (TVL) drop by 45% as key markets mature and liquidity providers reassess their positions, signaling broader challenges within the decentralized finance space and highlighting the volatility in the DeFi ecosystem.

Top Stories:

  • Crypto Fear and Greed Index plummets to lowest since Bitcoin at $17K, indicating heightened market anxiety.

  • Bitcoin miners near capitulation amid profit declines, increasing operational costs, and BTC sell-off pressures.

  • Pendle's TVL drops 45% as key DeFi markets mature and liquidity providers reassess their positions.

TOP STORIES

Crypto Crash Pushes Fear & Greed Index to Lowest Since Bitcoin Traded at $17K in Early 2023

The widely-followed sentiment metric hit extreme greed levels earlier in March near the local top of the crypto market, but now is pushing its limits in the opposite direction.

www.coindesk.com/markets/2024/07/05/crypto-crash-pushes-fear-greed-index-to-lowest-since-bitcoin-traded-at-17k-in-early-2023

Bitcoin miners โ€˜near capitulationโ€™ as profits dry up alongside BTC sell-off

Bitcoin miners are close to capitulation, but this phase has also coincided with BTC price bottoms and trend reversals.

cointelegraph.com/news/bitcoin-miners-near-capitulation-as-profits-dry-up-alongside-btc-sell-off

Pendle's TVL Drops 45% as Key Markets Mature - The Defiant

Yield trading protocol Pendleโ€™s Total Value Locked (TVL) plunged by 45% in just a week, dropping to $3.5 billion from $6.2 billion, according to DeFiLlama data.

thedefiant.io/news/defi/pendle-s-tvl-drops-45-as-key-markets-mature

FUNDRAISES

OTHER HEADLINES

Mt Gox starts making repayments in bitcoin and bitcoin cash: trustee

The trustee said that the repayments were made through a part of the designated crypto exchanges based on the rehabilitation plan.

www.theblock.co/post/303614/mt-gox-starts-making-repayment-in-bitcoin-and-bitcoin-cash-trustee

US House to vote next week on overriding President Biden's veto of SAB 121

The U.S. House is set to vote next week on a controversial SEC accounting bulletin after getting a veto from U.S. President Joe Biden.

www.theblock.co/post/303779/us-house-to-vote-next-week-on-overriding-president-bidens-veto-of-sab-121

U.S. Court Rules Two Obscure Altcoins Are Commodities - The Defiant

A U.S. court determined that OlympusDAO (OHM) and KlimaDAO (KLIMA) qualify as commodity assets.

thedefiant.io/news/regulation/u-s-court-rules-two-obscure-altcoins-are-commodities

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