Data shows the sentiment in the cryptocurrency sector has plummeted deep into 
extreme fear as Bitcoin and other assets have crashed. Bitcoin Fear &amp; Greed 
Index Has Dropped To A Low Of 11 The &#8220;Fear &amp; Greed Index&#8221; refers to an 
indicator created by Alternative that tells us about the average sentiment 
present among traders in the Bitcoin and wider cryptocurrency markets. Related 
Reading: XRP Breaks Below Triangle—Will Drawdown Extend To $1.14? The index 
uses a numerical scale running from zero to hundred for representing the 
investor mentality. All values on this scale above 53 correspond to a 
sentiment of greed, while those below 47 to one of fear. The metric being 
between these two cutoffs naturally suggests a net neutral mentality. Besides 
these three main zones, there are two extreme regions called the extreme fear 
(25 and under) and extreme greed (above 75). Currently, the market is in the 
former of these two zones. As is visible above, the Bitcoin Fear &amp; Greed Index 
has a value of 11 right now, which is deep inside extreme fear. Thus, it would 
appear that investors are quite pessimistic about the market. Just a couple of 
days ago, the sentiment was inside the normal fear region. The sharp 
deterioration since then has come as a result of the steep drawdown that BTC 
and other assets have faced. As displayed in the above graph, the latest 
decline in the Fear &amp; Greed Index has meant that its value is now at its 
lowest since early April. Historically, digital assets have often tended to go 
contrary to the opinion of the majority, so this extremely fearful mentality 
may not actually be a bad sign for the sector. That said, the current value of 
11 alone may not be able to dictate whether a bottom is close. Back in 
February, the index went to a low of 5 before the market found some stability. 
Related Reading: Bitcoin Bulls Crushed: Sub-$70,000 Crash Flushes $428M In 
Longs In some other news, the recent Bitcoin plunge has come alongside a 
contracting demand in the market, as highlighted by CryptoQuant head of 
research Julio Moreno in an X post. From the chart, it&#8217;s apparent that the 
30-day change in the combined Bitcoin spot and futures demand has been 
negative recently. Over the past month, demand has contracted by 232,000 BTC 
on these markets. Moreno explained: The ongoing price correction is completely 
related to Bitcoin demand conditions and has nothing to do with stocks (all- 
time highs), oil or macro (e.g. manufacturing activity is growing faster). BTC 
Price At the time of writing, Bitcoin is trading around $67,000, down more 
than 11% over the past week. Featured image from Dall-E, chart from 
TradingView.com

Data shows the sentiment in the cryptocurrency sector has plummeted deep into extreme fear as Bitcoin and other assets have crashed. Bitcoin Fear &amp; Greed Index Has Dropped To A Low Of 11 The &#8220;Fear &amp; Greed Index&#8221; refers to an indicator created by Alternative that tells us about the average sentiment present among traders &#8230;

Bitcoin Traders Turn Most Fearful In 2 Months Following Crash

Bitcoin hovered under the $63,000 mark late June 3 after a steep selloff 
erased more than $1.2 billion in leveraged crypto positions during the past 24 
hours. Data from Coinglass shows total liquidations reached approximately 
$1.12 billion over the last day, with long traders absorbing the overwhelming 
majority of the damage. Nearly $949 million in […]

Bitcoin hovered under the $63,000 mark late June 3 after a steep selloff erased more than $1.2 billion in leveraged crypto positions during the past 24 hours. Data from Coinglass shows total liquidations reached approximately $1.12 billion over the last day, with long traders absorbing the overwhelming majority of the damage. Nearly $949 million in &#8230;

$1.2B Liquidated as Bitcoin Tests $62.5K Support Amid Sharp Crypto Selloff

Bitcoin price started a fresh decline below the $68,000 zone. BTC is down over 
10% and might continue to move down if it dips below $62,000. Bitcoin failed 
to stay above $68,500 and extended losses. The price is trading below $65,000 
and the 100 hourly simple moving average. There is a bearish trend line 
forming with resistance near $65,200 on the hourly chart of the BTC/USD pair 
(data feed from Kraken). The pair might extend losses if it stays below the 
$65,000 and $66,500 levels. Bitcoin Price Takes A Major Hit Bitcoin price 
failed to stay above the $70,000 support zone. BTC remained in a bearish zone 
and extended losses below the $68,000 level. There was a move below the 
$65,000 level. The price even dipped below $63,200. A low was formed at 
$62,490 and the price is now showing many bearish signs. It is well below the 
23.6% Fib retracement level of the downward move from the $74,070 swing high 
to the $62,490 low. Bitcoin is now trading below $65,000 and the 100 hourly 
simple moving average. If the price remains stable above $62,000, it could 
attempt a fresh increase. Immediate resistance is near the $63,500 level. The 
first key resistance is near the $64,000 level. A close above the $64,000 
resistance might send the price further higher. In the stated case, the price 
could rise and test the $65,000 resistance. There is also a bearish trend line 
forming with resistance near $65,200 on the hourly chart of the BTC/USD pair. 
Any more gains might send the price toward the $66,500 level. The next barrier 
for the bulls could be $68,000 or the 50% Fib retracement level of the 
downward move from the $74,070 swing high to the $62,490 low. More Losses In 
BTC? If Bitcoin fails to rise above the $65,000 resistance zone, it could 
start another decline. Immediate support is near the $62,500 level. The first 
major support is near the $62,000 level. The next support is now near the 
$61,200 zone. Any more losses might send the price toward the $60,500 support 
in the near term. The main support now sits at $60,000, below which BTC might 
struggle to recover in the near term. Technical indicators: Hourly MACD – The 
MACD is now gaining pace in the bearish zone. Hourly RSI (Relative Strength 
Index) – The RSI for BTC/USD is now below the 50 level. Major Support Levels – 
$62,000, followed by $60,000. Major Resistance Levels – $64,000 and $65,000.

Bitcoin price started a fresh decline below the $68,000 zone. BTC is down over 10% and might continue to move down if it dips below $62,000. Bitcoin failed to stay above $68,500 and extended losses. The price is trading below $65,000 and the 100 hourly simple moving average. There is a bearish trend line forming &#8230;

Bitcoin Price 10% Selloff Sparks Fears Of A Deeper Breakdown

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Bitcoin Traders Turn Most Fearful In 2 Months Following Crash

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