4E: Crypto Panic Index Falls to 45, Markets Tend to Be Cautious

On September 22nd, according to 4E observation, the crypto panic and greed index fell to 45 on September 22nd (49 yesterday, and the average value last week was 53), and the market sentiment turned to "panic". The index is composed of volatility, trading volume, social media popularity, bitcoin market share, and Google buzzwords.
In terms of regulation, European Union finance ministers reached a consensus on the digital euro roadmap at the Copenhagen meeting, emphasizing that it is not only a payment instrument, but also a political declaration of European sovereignty. But the plan still needs to be approved by the European Parliament. It is expected that the legislation will be completed as early as June 2026, and the official launch may take three years. During this period, it still faces data privacy and financial stability challenges.
In terms of market performance, Bitcoin is trading around $117,800. Researcher Axel Adler Jr. pointed out that since September 9, ETF inflows have reached $2.80 billion, and the futures market is too large. It is expected that BTC has a 70% probability of reaching a new high in the next two weeks. If the closing price exceeds $117,500, it will confirm the upward trend and reduce the downside risk.
4E reminds investors that lower sentiment indicators coexist with ETF inflows, indicating that the short-term divergence of the market has intensified. Investors are advised to maintain flexible position management while paying attention to macro-supervision and policy progress.