Bitwise CIO: Currently, the sentiment among retail crypto investors is low, but professional investors are extremely optimistic about the market

In a message from ChainCatcher, Bitwise Chief Investment Officer Matt Hougan stated that there is currently a huge divergence in sentiment between professional investors and retail investors in the crypto market. Retail investor sentiment is at its lowest level in years, while professional investors are extremely bullish on the market. The Crypto Fear Greed Index shows that this index has fallen 25 points from last month's 69 (greed) to 44 (fear).

Bloomberg ETF analyst James Seyffart pointed out that this is because retail investors hold a large amount of altcoins and meme coins which have severely declined. Data shows that the top three meme coins by market cap have all dropped more than 20% in the past seven days, with Pepe down 35.31%, Shiba Inu down 20.82%, and Dogecoin down 24.69%.