Crypto fear & greed index falls to 30 after binance hack
The index slipped to 30 on Nov 2, well under its 30‑day average of 56, after sentiment had already weakened from 68 on Oct 22.
Key takeaways
- 1Crypto Fear & Greed Index fell to 30, below its 30‑day average of 56.
- 2Binance logged $3.64 bn net outflows after reopening withdrawals post‑hack.
CryptoQuant said the Crypto Fear & Greed Index fell to 30 on 2 Nov, following the Oct 29 Binance hack that stole billions of dollars.
The index’s 30‑day average sits at 56. It had already slipped from 68 on 22 Oct to 51 before the incident, indicating sentiment was eroding even before the breach. CryptoQuant added that a sustained recovery in both sentiment and price would be needed to confirm improvement.
Binance is the world’s largest cryptocurrency exchange. The Oct 29 hack involved roughly $6.3 bn of assets, prompting investigations by the US Secret Service and FBI. Tether froze $971 m USDT linked to the stolen funds, and Binance recorded a $3.64 bn net outflow after reopening withdrawals, with volumes stabilising as service resumed.
The sharp drop in the fear‑and‑greed gauge signals heightened anxiety among traders and could weigh on risk‑on crypto assets. Market participants will watch for any reversal in sentiment and for further law‑enforcement actions. The index’s movement over the next week will be the key barometer.
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