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According to Odaily, Sui Chung, the CEO of CF Benchmarks, has stated in an interview that all regulatory precedents indicate that ETH tokens should be classified as a 'commodity'. This statement comes amidst ongoing discussions about the nature and classification of various cryptocurrencies. Chung's assertion adds to the growing consensus among industry leaders about the status of ETH tokens. His comments are based on existing regulatory precedents, suggesting that the classification of ETH tokens as commodities is not a new concept, but rather a widely accepted view within the industry. However, it is important to note that the classification of cryptocurrencies can vary depending on the jurisdiction and the specific regulatory body involved. Therefore, while Chung's comments provide insight into one perspective, they do not necessarily represent a universally accepted viewpoint. This news highlights the ongoing debate about the nature of cryptocurrencies and their place within the global financial system. As the industry continues to evolve, the classification and regulation of cryptocurrencies like ETH will likely remain a topic of discussion.

The crypto market remains deep in Extreme Fear mode today, with sentiment hitting rock-bottom levels not seen since major past crashes. Here's a quick breakdown based on the latest data:
Key Metrics at a Glance
Total Market Cap: ~$2.29T (down 0.32% in the last 24h)
The overall crypto ecosystem continues its mild bleed, hovering around the $2.29T mark after sharper drops earlier in the year. Volume remains subdued, signaling low conviction and thin liquidity.
Bitcoin (BTC): $66,996 (flat to slightly down ~0.03–0.17% recently)
BTC is stuck in a frustrating range, failing to decisively break (or even approach) the psychological $70K resistance. It's consolidating just below that level after recent weakness, with the chart showing repeated rejections.
Ethereum (ETH): $1,960.70 (down ~0.6%)
ETH continues underperforming BTC, now down significantly YTD (~33–34% in some trackers), reflecting broader altcoin pressure.
Fear & Greed Index: 8 – Extreme Fear (record lows around 5 recently, plunged from 11 yesterday)
This is one of the lowest readings ever recorded. Extreme fear zones have historically marked capitulation and exhaustion, often preceding short-term rebounds (though not always full trend reversals). Previous lows (e.g., 5 in Aug 2019, 6 in June 2022, 10 during FTX) frequently led to temporary bounces as emotional selling dries up.
Altcoin Index / CMC20: 30/100 (weak) – Altcoins are lagging badly, with the index showing heavy pressure.
Other Indicators:
Market cap down ~22% in 2026 so far in some views.
BTC specifically -14.6% in February alone in recent reports.
Broader risk-off mood tied to macro factors.
Why Can't BTC Break $70K Resistance?
BTC has been pinned below $70K for weeks now, despite earlier attempts. Key reasons from current market dynamics:
Stronger-than-expected US jobs data (e.g., recent NFP additions beating estimates, unemployment dropping to 4.3%, JOLTS revisions showing labor resilience) → This reduces odds of near-term Fed rate cuts, pushes Treasury yields higher, and hurts risk assets like crypto.
Lack of fresh catalysts: No major inflows or positive triggers to fuel a breakout; institutional/ETF flows have been mixed or negative in spots.
Technical pressure: Repeated failures at resistance create a bearish structure. Liquidity is thin, open interest in futures has dropped sharply (demand weakening), and downside risks point toward tests of $65K–$60K if support fails.
Macro overhang: Higher-for-longer rates, profit-taking after 2025 highs, and whale movements (e.g., large dumps reported) add selling pressure.
The path of least resistance looks downward short-term unless we see a clear macro pivot (e.g., softer inflation data ahead or renewed ETF inflows).
Broader Takeaway
This is classic capitulation territory: Extreme Fear rarely lasts forever. Historically, these zones signal exhaustion where "emotional money" exits and smart money starts eyeing liquidity grabs. We're seeing oversold conditions across indicators (RSI low, etc.), but no immediate reversal signal yet.
Watch for:
Any bounce on short-covering.
Key supports: $65K–$60K zone for BTC.
Upcoming CPI/inflation data — could shift rate cut expectations.
Risk remains high — crypto stays volatile. This could be accumulation in disguise for patient holders, but near-term caution is warranted.

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