A Tough Day for Crypto, Bitcoin and Ethereum Under Pressure
Major crypto markets remained under intense selling pressure on Friday. Bitcoin (BTC) briefly fell through the psychological $100,000 level and traded in the $96,000–$99,000 range, a decline of more than 4% in the past 24 hours. This decline was triggered by a combination of global risk-off sentiment, outflows from crypto ETFs, and panic after early Bitcoin whales moved around 12,000 BTC to exchanges, sparking fears of a major sell-off.
Ethereum (ETH) also came under pressure, falling around 7–10% to the $3,100–$3,500 area after a major sell-off and breach of several key technical support levels. Other major altcoins, such as Solana (SOL), Cardano (ADA), and Dogecoin (DOGE), all fell around 8% as over $1 billion in long positions were liquidated in 24 hours, indicating a significant cleanup of leveraged positions. Market sentiment was also weighed down by the Bitcoin Fear & Greed index falling into the "extreme fear" zone, indicating extremely high levels of fear among market participants.
Fundamentally, market participants are now focused on two main factors: liquidity and the direction of US interest rate policy. The end of the US government shutdown paved the way for the release of delayed economic data, but many investors fear the data will actually confirm a deeper economic slowdown. At the same time, hopes for a near-term Fed rate cut are fading, causing riskier assets like crypto to lose some support. This combination of macroeconomic pressures, institutional outflows, and short-term panic is keeping major cryptocurrencies volatile and tending towards the defensive today.
Source: Newsmaker.id
