Bitcoin Plunge Sparks Market-Wide Anxiety

The cryptocurrency sector is witnessing a severe liquidation event, with Bitcoin spearheading the downward trajectory. In a remarkably short timeframe, the flagship digital currency has surrendered all gains accumulated since the start of the year, plunging market sentiment into a state of “extreme fear.” This development raises critical questions about whether the premier cryptocurrency is poised for further declines.

The recent sell-off triggered a staggering $510 million in liquidations within a 24-hour window. A disproportionate share of these losses—amounting to 83%—originated from long positions, indicating that bullish traders faced the most severe impact. The prevailing mood is quantifiably bleak: the Crypto Fear and Greed Index has collapsed to a reading of Read more...