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

ChainCatcher news, Bitwise Chief Investment Officer Matt Hougan stated that there is a significant divergence in sentiment between professional and retail investors in the current cryptocurrency market.

Retail sentiment is at its lowest level in years, while professional investors are extremely bullish on the market. The Crypto Fear and Greed Index shows that the index has dropped 25 points from last month's 69 (Greed) to 44 (Fear).

Bloomberg ETF analyst James Seyffart pointed out that this is due to retail investors holding a large amount of severely declining altcoins and meme coins. Data shows that the top three meme coins by market capitalization have all dropped over 20% in the past week, with Pepe down 35.31%, Shiba Inu down 20.82%, and Dogecoin down 24.69%.