Fear of greed hits 12, but $BTC still has 66% of contracts in long positions, with emotions screaming, and positions still holding on tightly.

Point A is about stopping the bleeding after a sharp decline.
$BTC fell below $60k and then rebounded near $61k, with the current marked price around $60,658.
This indicates that the critical level was breached without an immediate crash, but the rebound hasn't yet dispersed the panic.
The previous downward move triggered about $1.6 billion in liquidations.
This is not a normal retracement; it’s leveraged positions being forcibly unwound.
Point B is that the market isn’t entirely pessimistic.
BlackRock spot $BTC ETF saw a net inflow of 537 BTC today, about $33.18 million.
This indicates that institutional investors have finally shifted from outflows to slight buying, but the scale is still insufficient to reverse the entire downtrend.
At the same time, open interest in BTC contracts remains at $6.15 billion.
This shows that on-chain positions are still substantial, and any price movement could easily amplify liquidations and short squeezes.
The market’s real focus is on who will break first: “those trying to bottom fish” or “those forced to liquidate.”
BTC funding rate is about +0.0025%, with long positions paying relatively low fees, indicating crowding but not yet madness.
BTC active buy-sell ratio is 0.76, meaning sell orders still significantly outweigh buy orders on the order book.
The Nasdaq 100 today had seven consecutive hourly candles in the green, also serving as a reminder: risk assets are not just a single-coin issue, but a market-wide cooling.
If the proportion of BTC longs drops significantly from 66%, and the active buy-sell ratio reclaims above 1, then the logic of “panic not yet cleared, rebound first faces resistance” will need to be reconsidered.
$BTC $ETH #Crypto Market
Generated with Claude Opus 4.8. AI may be incorrect; information is for reference only.