Bitcoin and the broader crypto market have reached their lowest sentiment levels in seven months. This comes even as BTC continues to trade above $100,000, while gold and silver gained strength following the end of the U.S. government shutdown.
Crypto Sentiment Falls to Deep Fear Levels
Traders are more fearful than at any time since March. Both Bitcoin and major altcoins have dropped into “extreme fear,” according to sentiment data.
The Crypto Fear & Greed Index fell to 15 out of 100 on Wednesday, its weakest reading since early March. This level is even lower than the panic seen during the height of U.S. tariff concerns in April, when Bitcoin briefly dipped under $75,000.
Trader BitQuant noted the unusually severe sentiment, saying he had “never seen this indicator that low,” and suggested retail investors may have already exited the market.
Analytics firm Santiment echoed this view, arguing that the current negativity may signal a potential market inflection point. The firm said periods of extreme pessimism often indicate that retail investors have capitulated, creating opportunities for larger holders to accumulate and eventually push prices higher.
Gold Outshines Crypto as Shutdown Ends
While crypto sentiment plunged, traditional markets showed a different picture. The standard Fear & Greed Index for stocks sat at 35 out of 100, far above crypto levels.
The official end to the U.S. government shutdown had little effect on crypto or equity markets, as the outcome was already priced in. Instead, gold and silver saw strong demand. Gold climbed above $4,200 per ounce and moved closer to retesting its all-time high.
Commentators noted that expectations of new economic stimulus—potentially $2,000 payments to Americans—were fueling additional interest in precious metals.
At the same time, the BTC-to-gold ratio dropped sharply. According to data from Cointelegraph Markets Pro and TradingView, Bitcoin was nearing its lowest level against gold in more than a year.
