Sentiment across the crypto market has fallen to its weakest level since February after a sharp decline sent Bitcoin below the psychological support level of $100,000.
The economic downturn has a direct impact on investor sentiment, with the Fear and Greed Index dropping to 15, well deep into the extreme fear zone. The overall cryptocurrency market is currently down about 6% in the past 24 hours, creating one of the most emotionally charged trading environments seen this year.
Cryptocurrency Fear and Greed Index plummets to 15
The entire crypto market has faced a series of liquidations and selling pressures in the past 24 hours, with many cryptocurrencies losing key support levels. Chief among them is Bitcoin, which is currently trading below $100,000 for the first time since early May, according to CoinGecko data.
Bitcoin falls below $100,000 This was accompanied by a series of forced liquidations that wiped out a large portion of leveraged long positions across the industry. coin glass the data shows that In the past 24 hours alone, $1.1 billion worth of crypto positions were liquidated, of which $968.51 million were held by longs.
This rapid Bullish deleveraging The bearish mood in the market strengthened, especially among traders who expected Bitcoin to defend the $100,000 support more convincingly.
The chain reaction is Not limited to Bitcoin. Ethereum and other major cryptocurrencies Data from CoinGecko revealed that the entire cryptocurrency market capitalization fell by 6% in 24 hours, the biggest single-day decline in a long time.
These synchronized weaknesses worked together to raise the fear and greed index to extreme values. according to fear and greed Index publisher On Alternative.me, the score has dropped to 15 in the past 24 hours, well below the “extreme fear” category. This is also interesting as it marks the lowest level of crypto market sentiment recorded since March 4, 2025.
What’s next for Bitcoin and the crypto market?
The next few days will depend on whether Bitcoin Lost land can be regained and reestablishing itself above the six-figure threshold of $100,000.
If Bitcoin price continues to trade below $100,000, the market may remain defensive. However, if stabilization begins to form and there is strong buying pressure above $100,000 again, sentiment could gradually recover and temper the extreme fear reading.
Bitcoin finally stabilized and entered a steady recovery phase when the index last reached similar levels earlier this year. This does not guarantee an immediate turnaround in this case, but many short-term traders and weak hands Already deleted From the market.
At the time of writing, Bitcoin is trading at $97,080, down 6.5% in the past 24 hours. The total market capitalization of cryptocurrencies was $3.368 trillion, down 6.2% over the same period.
Featured image from Getty Images, chart from Tradingview.com
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