The Fear & Greed Index has dropped straight to 25 today, labeled as 'Extreme Fear,' compared to 28 just the day before. Geopolitical news hasn’t fully unfolded yet, but the market has already priced in the panic. At the same time, gunshots were reported near the White House, prompting heightened security in Washington. Meanwhile, U.S. officials were privately negotiating with Iran through intermediaries, saying, 'Don’t take it too seriously.' Reports suggest Iran agreed to a memorandum of understanding involving a ceasefire, reopening the strait, and releasing about $25 billion in assets. Publicly, they’re still exchanging tough rhetoric, but behind the scenes, they’re working on a framework. This kind of information gap is even more damaging to crypto markets, which are so emotion-driven—most people only see the gunshots and threats, not the memorandum or quiet negotiations. When the Fear Index is already at an extreme, but the actual trajectory remains uncertain, is this 'Extreme Fear' a case of pre-pricing a black swan event, or is it setting the stage for a misjudgment? What do you think the market is more likely digesting right now?