Bitcoin Price Drop Deepens Amid Market Fear
Bitcoin nears $83K after four days of ETF outflows, with extreme fear gripping the crypto market.
- Bitcoin drops 9.3% as ETF outflows continue
- Fear & Greed Index sinks to 14: Extreme Fear
- Over $2B in crypto liquidations as markets fall
Bitcoin is under pressure again as the broader market faces renewed risk-off sentiment. The world’s largest cryptocurrency dropped by 9.3% to hover around $83,000. This decline follows four consecutive days of net outflows from both Bitcoin and Ethereum ETFs, signaling waning investor confidence.
At the same time, Ethereum fell by 7.3%, trading near $2,794. The ongoing ETF exits suggest institutional investors are pulling back, likely reacting to uncertainty in the equity markets and the fading excitement surrounding Nvidia’s earnings.
Extreme Fear Grips Crypto Investors
The Fear and Greed Index (FGI), a widely followed sentiment gauge, dropped to 14 — marking “Extreme Fear.” This sharp decline reflects a broader wave of anxiety spreading across financial markets. Investors are seeking safety amid macroeconomic concerns, with both traditional and digital assets turning red.
Adding to the chaos, the crypto market saw over $2 billion in liquidations within the past 24 hours. These forced sell-offs further fueled the price drops, intensifying the downturn.
Market Cap and Broader Impact
The total crypto market cap now stands at $3.10 trillion, reflecting the sharp pullback in major coins and altcoins. While this still indicates significant long-term growth, the current environment underscores the volatility inherent in crypto investing.
Traders and analysts will be watching closely to see if Bitcoin can stabilize around the $83K level or if further downside is ahead. Much will depend on investor sentiment and whether ETF flows can turn positive in the coming days.
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