The crypto fear and greed index has fallen to 12, indicating a state of extreme market panic.

Over the past year, there have been 13 instances of Bitcoin being liquidated in a single day with a value exceeding $500 million, including three instances where the liquidation amount exceeded $1 billion. In the latest round of sell-offs, the 24-hour liquidation of long positions in the crypto market reached approximately $1.3 billion, with Bitcoin positions accounting for the majority of that. High-leverage trading and macroeconomic news shocks exacerbated market position collapses, and derivatives trading has become the norm in the crypto market. Low liquidity before the start of the European trading session easily triggered a chain reaction of stop-loss orders. (Source: Bloomberg)

Nasdaq-listed mining company Bitdeer mined 256.1 BTC this week and sold them all, currently maintaining a zero holding status.

The crypto fear and greed index fell to 12, down from 20 yesterday.

The roughly $5 million transfer also spent the tiny payment used to deliver a court notice to the address in May.

Lorenzo Valente, head of digital asset research at ARK Invest, said that Vitalik Buterin's recent views on positioning ETH as a store of value represent a shift in the ETH value narrative. Lorenzo Valente raised five key questions, including whether Ethereum will permanently abandon its deflationary path and whether value store investors can accept long-term inflation after addressing long-term cybersecurity budget issues through continuous issuance.