Bitwise: The market is in panic, it’s time to stockpile Bitcoin


recent weakness in Bitcoin seems to have dampened market enthusiasm, with Google search interest hitting a multi-month low. The latest market sentiment index reflects typical bear market characteristics, with cautious sentiment dominating the entire crypto market. The crypto fear and greed index has dropped to 24, in the "fear" level, the lowest point in the past year, a significant decrease from last week's 71. This decline is similar to the sentiment when Bitcoin briefly fell below $74,000 in April this year, and also echoes the market fatigue cycles of 2018 and 2022.