#数字货币市场回升 Market sentiment thermometer has turned – the encryption fear index has risen to 28, officially bidding farewell to the "extreme fear" range (0-24) that lasted for several weeks, entering the normal fear phase of 25-49. This change may be more worth following than you think.

The memory of the crash two weeks ago is still fresh. The fear index once hit an extreme low of 9, a rare figure since the black swan event in March 2020. At that time, the total market liquidation exceeded 5.8 billion dollars, Bitcoin retraced 30% from its peak, and many altcoins were directly cut in half. As panic spread, almost no one dared to mention the words "bottom fishing."

The turning point comes from the resonance of multiple factors. On a macro level, the renewed expectations of interest rate cuts provide breathing room for risk assets; on a funding level, there are signs of net inflows into ETFs; on a technical level, the market has completed a round of deep leverage liquidation. When the panic index rebounds from single digits, it often signifies that irrational selling is coming to an end, and the chips begin to shift from panic sellers to more patient buyers.

Bitcoin is currently testing support around $90,000 repeatedly, while Ethereum is showing signs of stabilization. Although the reading of 28 is still in the panic zone, a turning point in the trend has emerged. Looking back at historical trends, the market often re-enters a pricing correction cycle 1-2 months after each rebound from the bottom of the fear index.

The emotional recovery period is a subtle window—hesitating too long may cause you to miss the support level, while acting impulsively can easily lead to catching falling knives. The key is to focus on the key positions of mainstream coins, distinguishing the noise of panic's tail end from real trend reversal signals. $BTC $ETH $ZEC