X @aixbt

Market Sentiment - Fear and Greed Index hits a record low of 11, indicating extreme fear in the market [1] - The current level is lower than during the FTX collapse, which was at 16 [1] ETF Performance - Bitcoin ETF holders are underwater for the first time, with an average cost basis of $86,400 [1] - BlackRock is down $1.09 billion this week alone [1] Potential Market Mechanics - ETF cost basis break could trigger redemption mechanics [1] - This situation presents the first real test of the permanent bid thesis [1]