Market Sentiment Crumbles As Sell-Offs Drags Bitcoin To $33,000

It is undoubtedly one of most devastating market crashes in recent history. The crash has caused massive drops in Bitcoin and other digital assets. Bitcoin has seen more than half of its historic high in just two months. As a result, its price has fallen to $33,000 for only the sixth month since July.

The market’s movements have caused the sentiment in the markets to plummet. Market sentiment has drifted completely to the negative as investors have grown more wary about the market than they were during the May crash. The Fear & Greed Index puts this into perspective with its current rating as it now sits at one-year lows, crashing to 11 on the scale.

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Fear & Greed Index Goes Haywire

The Fear & Greed Index has been consistently declining into the negative as bitcoin and others have continued to record massive fluctuations. However, now the index has crashed to one of its lowest points. On Sunday, the Fear & Greed Index hit a score of 11, completely registering sentiment in the negative as it dived into extreme fear.

The following day has not come with much good news as the Fear & Greed Index still shows that investors are very wary of the market. At the time this is written, it stands at 13, which is just 2 points more than its Saturday low of 11. Nevertheless, the Fear & Greed Index has now spent a week in extreme fear as last week concluded with the index in the same territory.

Fear & Greed Index goes into Extreme Fear

Fear & Greed Index remains in extreme fear | Source:

Investors are scrambling for more profits and sell-offs continue to be the norm. As the market is currently in a prolonged bear market, it appears that this could signal the beginning of another one. The market didn’t recover for two more years after that. If the past is any indication, the downtrend could continue. Some predict that the bottom will be $10,000.

Bitcoin Liquidations Rack Up

There have been huge liquidations in the midst of all the selling and crash. The bulk of liquidations have been recorded in Bitcoin, with many millions of dollars worth of longs being liquidated within 24 hours. BTC liquidations totaled $390 millions in one day. However, the 12-day chart is even worse due to more liquidations.

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There have been more than $283 millions in bitcoins liquidated over the course of 12 hours. Data from Coinglass shows that 80.8% (80.8%) of liquidations have occurred in bitcoin. Binance, OKEx and FTX are the top exchanges that have the largest number of liquidations, since the bulk of these transactions took place on their platforms.

Bitcoin price chart from

BTC rises to $34k Source: BTCUSD at| Source: BTCUSD on

Bitcoin’s price continues to trend low, touching $33,000 in the early hours of Monday. Twitter buzzes with discussion about the Bitcoin crash, with #BitcoinCrash being trending. With indicators suggesting further declines, the digital asset trades at $34,200.

Featured image taken from Unfinished Success. Charts from and

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