A very interesting chart:


In 2024, when BTC is at 66k, the F&G index is at 82;
In 2026, when BTC is at the same price level, the index is only 12…
With the market cap and price exactly the same, from an absolutely rational perspective, the sentiment should be completely consistent—but in reality, it’s heaven on earth and hell in the other.
This shows that even to this day, sentiment still dominates a large portion of the pricing weight—so the future is worth looking forward to!
If a market has no sentiment at all, and it’s only absolute rationality and cold numbers that are battling it out, then that would be truly impossible to participate in…
Just like there are so many retail traders who trade crypto and stocks, but I’ve never seen anyone posting their government bond trades every day…
BTC-4.49%
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