The crypto fear and greed index has fallen to its lowest level since September 2024, signaling extreme fear in the market as Bitcoin drops below $93,000. This decline follows a broader market sell-off, with Ethereum and Solana dropping 10% and 14% respectively. Withdrawals from Bitcoin ETFs have exceeded $1 billion in the past two weeks. The decline in the crypto market has also led to $957.85 million in liquidations, mostly from long positions. Open interest has decreased by 5% to $108 billion, indicating a decline in risk tolerance. The market sentiment has been impacted by U.S. President Trump's announcement of tariffs on Canada and Mexico, as well as concerns about the Fed delaying rate cuts due to higher-than-expected inflation. The recent $1.4 billion Bybit hack has also negatively affected market sentiment. However, analysts believe that the market response is more measured compared to previous incidents, indicating a maturing cryptocurrency market.



Other News from Today