panic

Bitcoin remains above $62,000 amidst a general market weakness and rising tensions between the United States and Iran, indicating that recent "weak-handed" sellers may have been exhausted.The reflow of funds into spot crypto ETFs and the slowdown in spot market activity also show a reduction in selling pressure. Some analysts caution that the latest price stability is still primarily driven by speculative futures trading rather than strong spot demand.

According to Jinshi, the panic index VIX briefly touched a two-week high, rising 1.42 points to 20.31.

In the past 24 hours, the cryptocurrency derivatives market experienced massive liquidations, with a total liquidation amount of approximately $1 billion, and Ethereum's liquidation amount exceeded that of Bitcoin. At the same time, Bitcoin contract open interest rose for the second consecutive day to 778,000 BTC, with a sharp increase in open interest at the end of Thursday indicating that Bitcoin traders are adding short positions in a downtrend. In contrast, Ethereum contract open interest has remained stable at around 14 million ETH since June 15, and Ethereum traders have not actively shorted during the decline.The 24-hour cumulative trading volume difference adjusted for open interest shows that short positions continue to dominate among the top 25 cryptocurrencies, with only BNB, SOL, and TON as exceptions. Meanwhile, the 30-day annualized implied volatility index for Bitcoin surged to 53%, the highest since June 7; the volatility index for Ethereum rose to 66%. In the cryptocurrency options market, last week the skew for Bitcoin options approached 30%, with significant premiums for put options. In large trades, put options with a strike price of $53,000 expiring on July 10 have appeared, reflecting strong demand for downside hedging.

According to Jinshi reports, the panic index VIX has risen to a new high in over a week, currently reported at 20.31, with an intraday increase of nearly 18%.

According to Jinshi News, the fear index VIX fell to a low point not seen in over a week, dropping 0.27 points to 15.93.

According to Jinshi News, the panic index VIX recently fell by 0.89 points to 16.79, dropping to a low point in over a week.

According to Jinshi reports, the panic index VIX reached its highest point since April 7, rising 2.72 points to 21.64.

According to Jinshi reports, the panic index VIX rose by 1.1 points, reporting at 20.02 points.

According to The Block, Coinbase's institutional strategy head John D'Agostino stated that despite Bitcoin recently dropping below $60,000, institutions are not panicking; instead, they are taking the opportunity to accumulate. He said, "Family offices, government funds, and sovereign funds that are trying to buy these assets can do so at a discount, and they are not discouraged by this. Lower prices are actually more favored."D'Agostino also pointed out that although the price of Bitcoin has fallen nearly 50% from its peak, Bitcoin ETFs still have about $100 billion in exposure, and retail interest has only decreased by about 15%, indicating that investors are not making large-scale withdrawals. He mentioned that large entities holding Bitcoin with leverage have the capacity to continue securing capital to buy, and no major institutions have been found to face serious leverage or liquidation risks.

Coinbase's Head of Institutional Strategy, John D'Agostino, stated that despite Bitcoin recently dropping below $60,000, large investors such as family offices and sovereign wealth funds did not panic, but rather viewed the decline as a buying opportunity at a discount. He mentioned that these institutions were optimistic when Bitcoin was at $125,000, remained interested at $100,000, and "liked it even more" around $65,000. Bitcoin fell to $59,200 last Friday, marking its lowest point since October 2024, down about 50% from its peak of over $126,000 in October 2025.D'Agostino believes that institutional confidence remains strong, investments in related market infrastructure continue, and Bitcoin ETF holdings are resilient. Currently, Bitcoin ETF exposure is still around $100 billion, even though the price has nearly halved from its peak, with retail interest retracting by about 15%. He also downplayed concerns about large institutional leveraged positions being forced to liquidate, stating that he is not aware of any major institutional Bitcoin holders being in a "severely over-leveraged" state.

According to Jinshi reports, the panic index VIX surged to a more than two-week high, rising 3.32 points to 18.72.

Since this week, Bitcoin has experienced a wave of panic selling under the shadow of Strategy's coin selling and the diversion of AI funds, dropping over 10% from a peak of $74,000, and has now fallen back to the low range for this year.It is worth noting that during this period, the open interest in Bitcoin's coin-denominated contracts has risen against the trend, currently reported at 784,400 coins, close to a historical high. In response to this phenomenon, the well-known trader Killa, who predicted the peak of this bull market in May 2025, stated that this often indicates a key top or bottom, warranting high attention.

According to Jinshi News, JPMorgan stated that investor panic is rapidly escalating, and many clients have turned fully bearish on the stock market. Despite the pessimistic market sentiment, JPMorgan's traders still advise clients to remain calm amid market volatility and not to panic.

According to Jinshi reports, the panic index VIX has fallen to a three-month low, down 0.71 points to 16.67.

According to Jinshi reports, the panic index VIX has fallen to its lowest level in more than two months, reporting at 16.72.

CryptoQuant posted on platform X that the current pullback of BTC is still higher than the previous panic sell-off low. This does not guarantee further declines, but the current situation still has substantial differences from past cyclical lows.

According to Jinshi reports, Andrew Slimon, a senior portfolio manager at Morgan Stanley Investment Management, stated that investors should prepare for a pullback in the U.S. stock market and act decisively when fear reaches its peak.He believes that the current strong corporate earnings are colliding with accumulated risks, and the stock market, especially the "Tech Seven Giants," has risen significantly, increasing the risk of further price increases. Slimon advises investors to remain patient, stating that now is not the best time to deploy new capital, but he still maintains a constructive outlook in the long term.

Today's cryptocurrency Fear and Greed Index is 33 (yesterday it was 47), and market sentiment has shifted from "neutral" back to "fear." Note: The fear index threshold is 0-100, including indicators: volatility (25%) + market trading volume (25%) + social media popularity (15%) + market surveys (15%) + Bitcoin's proportion in the overall market (10%) + Google Trends analysis (10%).