#加密市场观察 The value reshuffle under extreme fear, 0.02% truth and the narrative redefinition of the crypto market
Crypto market sentiment has slipped into the extreme fear zone. Against the backdrop of major mainstream assets experiencing significant corrections and SocialFi narratives nearly evaporating, data showing stablecoin real payment share below 0.02% has sparked profound industry reflection on genuine demand.
When the fear index enters an extreme zone, the market's core logic shifts from offense to defense. Although BTC is trading below the mid-term moving average, its support around 8