I noticed that the crypto market sentiment is really at a low point these days. The Fear & Greed index has plummeted to 10, the lowest level in months, and it's clear from the movements that investors are in total panic.

Bitcoin has lost over 5% in a week, dropping below $100k for the second time this month. The decline in crypto is not just a matter of price; it's a combination of many factors: profit-taking, institutional outflows, macroeconomic uncertainty, and most importantly, liquidity remains very low. The broader crypto market has lost about 5.8% in the same period.

Add to that the scant hopes for a rate cut from the Fed, and you understand why the sentiment is so bleak. Structurally lower liquidity after the October crash doesn't help, making everything more volatile. In short, the decline in crypto seems destined to continue until these factors stabilize.