What happened when market sentiment collapsed? ​ According to AiCoin data, yesterday the Fear and Greed Index was still at 25, but today it dropped directly to 22, re entering the "extreme fear" range. This level of emotion is no longer an ordinary pullback, but a collective risk aversion of funds. The Federal Reserve continues to be hawkish, inflationary pressure remains high, and with BTC falling below 73000 at one point, market panic has been completely ignited. Although BTC is currently back above 73000, on chain data is still weak: Active addresses decrease by 14% Whale holdings decrease by 3.8% ETH Layer2 TVL drops 6.7% BTC on chain trading volume decreased by 28% year-on-year To put it simply, what is lacking now is not a rebound, but confidence. My personal judgment is: At present, it is more like a weak rebound, and in the short term, it is highly likely to be a volatile wash. The focus will be on whether 73000 can truly stand firm and whether the funds on the chain have flowed back. At this stage, it's better to slow down than rush to buy at the bottom. Do you think this wave is tempting or has it already bottomed out? Bitcoin BTC ETH