Fear index 11. Extreme fear. I’ve been in this market for seven years, and single-digit FNG can be counted on one hand. The last time was at the end of 2022, when BTC was at 16k—everyone knows what happened afterward. But what really matters isn’t the index bottoming out; it’s what happens after it bottomed out. When fear reaches its extreme, there is often another round of passive selling. It’s not that they want to sell—it’s that they have to.

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