Bitcoin Nears $100K as Extreme Fear Grips Crypto Market
Bitcoin edged down to about $102,000 on Tuesday, slipping 11.8% this week and marking its lowest level since June. Four consecutive days of red candles have driven the cryptocurrency toward the critical $100,000 support. Ether fell below $3,410 after a 6% intraday drop, trading near three-month lows. Major altcoins including XRP, BNB, SOL, DOGE and ADA lost 5–7% intraday, wiping out 15–26% of weekly gains. Crypto stocks such as MicroStrategy, Coinbase and Galaxy Digital also hit multi-month lows. The Crypto Fear & Greed Index plunged to 21–28, signaling extreme fear. Bitcoin treasury firm Sequans added selling pressure by liquidating 970 BTC. Traders should watch $100,000 for Bitcoin and $3,500 for Ether as elevated volatility and negative sentiment could trigger further liquidations before any rebound.
Bearish
Downticks in Bitcoin, Ether and altcoins, combined with extreme readings on the Crypto Fear & Greed Index and additional selling from Sequans, point to sustained selling pressure. In the short term, traders may see further downside if Bitcoin breaks below its $100,000 support or Ether drops under $3,500, leading to liquidations and amplified volatility. However, a rebound could follow once markets capitulate and sentiment stabilizes. Overall, the prevailing negative sentiment and key support tests justify a bearish outlook for Bitcoin trading conditions.