The Crypto Fear and Greed Index has dropped to a "neutral" reading for the first time in three months, following the approval of a spot Bitcoin ETF by the US Securities and Exchange Commission. The index has a rating of 52 over the past 24 hours, its lowest since October 19, 2023, when Bitcoin traded at a daily average of $31,000. Despite the ETF announcement, Bitcoin has been down 2.9% over the past week and is currently trading at the $42,500 level. The Crypto Fear and Greed Index tracks investor sentiment toward crypto markets and may signal buy opportunities just as excess greed levels could foreshadow impending price corrections. However, there is uncertainty around the impact of Bitcoin ETFs, and the long-term effects of increased institutional crypto access remain unclear.
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Bitcoin sentiment falls to neutral on Crypto Fear and Greed Index after US SEC approves ETF
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$1.2 billion in notional value of BTC options and $930 million in ETH options are set to expire
Greeks.live data shows that on May 17th, 18,000 BTC options with a put/call ratio of 0.63 and a maximum pain point of $63,000 (nominal value of $1.2 billion) will expire. Additionally, 320,000 ETH options with a put/call ratio of 0.28 and a maximum pain point of $3,000 (nominal value of $930 million) will also expire. Greeks.live states that this week, inspired by the meme stock craze in the US, BTC ETFs have seen significant inflows, causing BTC to surge above $65,000. However, the rest of the crypto market remains weak, with trading volume continuing to decline, and the divergence in the options data of BTC and ETH reflects this. Looking at the structure of bulk trades and market trades, the downward trend in IV for major deadlines has ended and entered a consolidation phase, with limited downside potential at present. BTC longs and shorts are relatively balanced, while the weak ETH price has led to a continuous decline in market confidence, with selling calls becoming the absolute main transaction. -
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In the past 24 hours, the entire network has liquidated $159 million, and short positions have liquidated $114 million
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Ethereum liquidity re-staking agreement TVL exceeds $10.1 billion, of which Eigenpie TVL exceeds $800 million
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