Crypto Markets Today: Fear Grips Market as BTC Price Tests Support, Altcoins Weaken

Bitcoin's price hovered near $91,000 as market sentiment fell to 'extreme fear', with a Fear & Greed Index hitting 15/100, the lowest since April. Volatility spiked, leading to over $1 billion in liquidations in leveraged futures. While some traders anticipate a bounce, Bitcoin may retest the $87,500 support level to flush out leverage remnants. Over the past 24 hours, the privacy coin sector saw significant declines, with zcash and dash dropping 14% and 9%, respectively. The wider market, excluding Bitcoin, lost 3.8% in value, suggesting significant caution among traders. Layered liquidations predominantly affected bullish positions, while some decentralized exchange tokens showed resilience, rising amid the broader market slump. Overall, historical patterns indicate that corrections are common in Bitcoin's bull markets, preventing the assumption of a 'crypto winter' as altcoins experience lower highs and lows.

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