The Crypto Fear and Greed Index — a tool that measures broader market sentiment towards Bitcoin and the broader crypto market — has dipped to a level of “fear” not witnessed since March 11 this year, when Circle’s USD coin (USDC) briefly lost its dollar-peg.
The stumble in market sentiment on June 5 comes in the wake of the United States Securities and Exchange Commission filing a lawsuit against Binance, its U.S. arm of operations and its CEO, Changpeng Zhao.