💀 Fear and Greed Index at 12, BTC Flash Crash Breaks $60k — How's Your Position Holding Up?
Good morning on this Saturday, the crypto market flipped overnight.
Let's look at the numbers: BTC is currently at $61,092, down 3.5% in 24 hours, but it dipped below $59,000 at one point — the first time it has broken the $60k mark since October 2024. ETH is faring worse at $1,583, nearly a 10% drop. SOL is at $63.97, down 6.6%. According to Coinglass data, over $1.5 billion in liquidations occurred across the market in 24 hours, with 300,000 traders getting wiped out, and long positions making up more than 80% of those liquidated. The Fear and Greed Index has dropped to 12, indicating 'Extreme Fear' — a number we only saw at the bottom of the 2022 bear market.
What happened? Three knives fell simultaneously:
① U.S. Stock Market Plunge: The U.S. May non-farm payroll data significantly exceeded expectations, leading the market to bet on the Fed hiking rates before the year-end, causing risk assets to collectively dive.
② Strategy Sells Bitcoin for the First Time: MicroStrategy was forced to sell coins to pay its preferred stock dividends, selling just 32 BTC, but the emotional impact of 'believers selling coins' far outweighs the actual sell pressure.
③ Record ETF Withdrawals: After 13 consecutive trading days of net outflows from the Bitcoin spot ETF, BlackRock's IBIT finally absorbed $48 million on Thursday, but market confidence has been severely shaken.
Interestingly, on-chain funds still saw a net inflow of $10.8 million into ETH, indicating that smart money hasn't fully exited. Historical patterns tell us that when the Fear and Greed Index drops below 15, it usually signals a 'buy the dip zone' for long-term players.
Your ETH has dropped nearly 10% this week, did you cut losses? Or are you quietly accumulating more? After BTC's four-month consolidation, did it just 'crash' through support, or is this a continuation of the downtrend?
Let’s chat about your moves in the comments, will there be bigger action this weekend? 👇
⚠️ NFA | DYOR | The above content does not constitute any investment advice.
Good morning on this Saturday, the crypto market flipped overnight.
Let's look at the numbers: BTC is currently at $61,092, down 3.5% in 24 hours, but it dipped below $59,000 at one point — the first time it has broken the $60k mark since October 2024. ETH is faring worse at $1,583, nearly a 10% drop. SOL is at $63.97, down 6.6%. According to Coinglass data, over $1.5 billion in liquidations occurred across the market in 24 hours, with 300,000 traders getting wiped out, and long positions making up more than 80% of those liquidated. The Fear and Greed Index has dropped to 12, indicating 'Extreme Fear' — a number we only saw at the bottom of the 2022 bear market.
What happened? Three knives fell simultaneously:
① U.S. Stock Market Plunge: The U.S. May non-farm payroll data significantly exceeded expectations, leading the market to bet on the Fed hiking rates before the year-end, causing risk assets to collectively dive.
② Strategy Sells Bitcoin for the First Time: MicroStrategy was forced to sell coins to pay its preferred stock dividends, selling just 32 BTC, but the emotional impact of 'believers selling coins' far outweighs the actual sell pressure.
③ Record ETF Withdrawals: After 13 consecutive trading days of net outflows from the Bitcoin spot ETF, BlackRock's IBIT finally absorbed $48 million on Thursday, but market confidence has been severely shaken.
Interestingly, on-chain funds still saw a net inflow of $10.8 million into ETH, indicating that smart money hasn't fully exited. Historical patterns tell us that when the Fear and Greed Index drops below 15, it usually signals a 'buy the dip zone' for long-term players.
Your ETH has dropped nearly 10% this week, did you cut losses? Or are you quietly accumulating more? After BTC's four-month consolidation, did it just 'crash' through support, or is this a continuation of the downtrend?
Let’s chat about your moves in the comments, will there be bigger action this weekend? 👇
⚠️ NFA | DYOR | The above content does not constitute any investment advice.