Bitcoin sentiment remains mired in “Extreme Fear” not seen since the 2023 bear market, with a key fear reading hitting its lowest point in over a decade. Despite this, the cryptocurrency has held above $70,000 and reclaimed $71,000, showing resilience as institutional buying through spot ETFs continues amid regulatory uncertainty and geopolitical pressure.
While Bitcoin trades above $70,000, market sentiment is deeply negative. The Fear and Greed Index sat at 15, reflecting severe caution, with a comparative reading hitting 5, a lower point than during major historical crashes.
Market confidence in the CLARITY Act is also fading, adding pressure. Odds of its passage on Polymarket have fallen from 82% in February to 56%.
Alex Thorn, Head of Firmwide Research at Galaxy Digital, delivered a blunt warning. He wrote: If CLARITY doesn’t pass committee by the end of April, odds of passage in 2026 become extremely low.
Despite the fear, Bitcoin’s price action shows underlying strength. The asset held above $70,000 and reclaimed $71,000, refusing to collapse under the weight of negative headlines.
Institutional money appears to be absorbing this selling pressure. U.S. spot Bitcoin ETFs bought $2.12 billion worth of Bitcoin over the last three weeks, marking their first three-week inflow streak since September 2025.
The latest weekly total reached $767 million, led by BlackRock’s IBIT with more than $260 million. This data, from SosoValue, shows continued institutional accumulation even amid ongoing fear.
