Last night I was lying in bed scrolling through my phone and saw ETH hovering around $1984. It suddenly reminded me of the book '1984'. Coincidentally, the market atmosphere does indeed feel very much like the oppressive feeling described in the book— the fear and greed index is at 9. What does that mean? It's like the whole class is extremely nervous the night before an exam, even the usually calm top student is starting to bite their nails.

Today's ETH movement resembles someone testing the edge of a cliff, fluctuating between $1938 and $2019, ultimately retreating a step and closing at $1984. This fluctuation of over $80 seems small, but in such an extremely fearful market sentiment, every up and down feels like a needle pricking everyone's hearts.

Interestingly, the perpetual funding rate for BTC is still normal at 0.0003%, indicating that the contract market hasn't experienced extreme long-short imbalances. It's like the calm before the storm; on the surface, everything seems peaceful, but everyone knows that the real test may still be ahead.

With a trading volume of 331 million not being too low, it shows that there are still quite a few people speculating at this level. Some are bottom-fishing in fear, while others are cutting losses in worry; this probably reflects the truest picture of the market. I wonder if the price of 1984 is hinting at something, but the current crypto market indeed gives off a feeling of 'Big Brother is watching you'.

#ETH #BinanceSquare #MarketSentiment #Cryptocurrency