Crypto Fear & Greed Index Hits Rare ‘Extreme Fear’ as Bitcoin Slides

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Bitcoin sheds more than $3,000 in less than two hours. Source: TradingView

The Bitcoin dropped more than 4% on Monday, falling to $64,300 and wiping out gains made over the weekend. The decline pushed the Crypto Fear & Greed Index to one of its lowest readings ever.

According to data from CoinGlass, more than 136,000 traders were liquidated in the past 24 hours, totaling $458 million in forced closures. Roughly 92% of those liquidations were leveraged long positions, highlighting how aggressively traders had bet on further upside.

Bitcoin had briefly climbed to $68,600 on Saturday but has since returned to support near the lower boundary of a range that formed after its February 6 plunge to $60,000. The asset now sits 48% below its October all-time high of $126,000 and 5.5% beneath its 2021 bull-market peak of $69,000.

[cryptobro]

when 136k traders get wiped in a day that’s not a dip that’s a reset