🔥 The fear and greed index reached its highest level in a year and a half

The Fear and Greed Cryptocurrency Index reached 68, which is the highest value in the last almost a year and a half.

🗓 Comparable marks were observed back in mid-November 2021, against the backdrop of Bitcoin reaching an all-time high at $69,000. After that, the indicator basically signaled the deterioration of market sentiment and the prevalence of "fear" among market participants.

🕯 The growth of the metric values ​​occurs against the background of the recovery of the cryptocurrency market. The capitalization of the latter has reached $1.2 trillion.

Over the past 30 days, digital gold has risen in price by more than 13%. At the time of writing, Bitcoin is trading at $27,800.

📊 Earlier, analyst Michael van de Poppe allowed the quotes of the first cryptocurrency to fall to $25,000 if the asset does not hold above $27,000.

📣 #Tether CTO Paolo Ardoino Live at #ParisBlockchain Week

✅ Regulatory Pressure on Binance Didn't Break Bitcoin Hodlers

The CFTC lawsuit against Binance and its CEO Changpeng Zhao did not lead to a significant outflow of users from the platform and did not shake investor confidence in the first cryptocurrency. These are the conclusions made by Glassnode analysts.

📊 Against the backdrop of continued consolidation of the price of bitcoin in a narrow range with reaching levels above $29,000, experts drew attention to a structural shift in stablecoins.

From its peak of $161.56 billion a year ago, the decline in capitalization of the four major stablecoins reached 22% ($125.8 billion).

🪙 The share of USDT increased to 63.7% ($79.5 billion) due to USDC, which sincedepegaamid turbulence in the banking sector, the US recorded a net conversion to fiat of $10 billion ($33.3 billion). The Circle and Coinbase curated stablecoin dropped to 26.5%.

🪙 The capitalization of BUSD collapsed by 52% to $7.7 billion with a share of 6.1%, if it is counted from the moment the NYDFS ordered to stop issuing the stablecoin to Paxos.

Since the beginning of the year, the Binance balance denominated in bitcoin and Ethereum has shown an increase of 67,930 BTC in the first case and zero dynamics in the second.

💬 “Despite the net outflow of stablecoins, the market does not express widespread concern about the position of the crypto exchange. Growing tensions between Binance and regulators have not affected its status as the largestOC", - experts emphasized.