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

Bitcoin is trading at around $91,400 while sentiment in the crypto market has plummeted to 'extreme fear,' as indicated by the Fear & Greed Index, which recorded its lowest level since April at 15/100. Over $1 billion in leveraged futures positions were liquidated in the past 24 hours, predominantly affecting long positions as volatility spiked. Many altcoins, especially privacy tokens like Zcash and Dash, experienced significant sell-offs, with Zcash falling 14%. While some derivatives tokens saw gains, the overall market dropped by approximately 3.8% in value. Traders are cautious as they anticipate potential support retests for Bitcoin at the $87,500 level. Historical trends indicate that markets often recover after sharp corrections, but for now, the market is undergoing a pronounced downturn with repeated lower highs and lower lows across altcoin pairs.

Source 🔗