Is panic amplified when emotions diverge from data?

When "the largest outflow since 2022" becomes a market headline, emotions are often quickly amplified.
But data needs to be understood in context.
The outflows in 2022 occurred during a period of comprehensive deleveraging and industry trust crises; whether the current environment has the same systemic risks is key to judging the nature of the situation.
If this outflow is accompanied by:
✔ Derivatives clearing amplification
✔ Extreme panic index
✔ Sharp increase in trading volume
then it indicates that short-term volatility has not yet ended.
However, if the outflow scale expands while price declines are relatively controlled, it may instead suggest that selling pressure is being absorbed by the market.
Market bottoms often form amid extreme emotions, but the process usually takes time.
From a long-term perspective, the core variables for cryptocurrencies remain adoption rate, technological development, and regulatory clarity. Short-term capital fluctuations are more cyclical.
Therefore, a single outflow data point cannot determine the trend, but it can serve as a reminder to investors: risk appetite is decreasing.
When emotions are overly pessimistic, rational analysis becomes even more important. #2022以来最大加密资产流出