Over the past 24 hours, more than $1.37 billion in leveraged positions have been liquidated, with long traders accounting for about 90% of all losses. Bitcoin’s drop below $105,000 triggered a domino effect. BTC is currently trading around $104,000, with a market capitalization near $2 trillion. The overall crypto market capitalization declined by 4% to $3.5 trillion, wiping out roughly $150 billion. The Fear & Greed Index has fallen to 27 points — the “fear” zone.
This correction is also driven by macroeconomic factors. The U.S. Federal Reserve signaled that the pace of monetary easing will slow down — as we reported earlier today. The probability of a second rate cut in December, which previously stood above 45%, has now dropped to just 15%.
Current rate range: 3.75–4.00%
According to the latest data:
- 70.1% of market participants expect a rate cut to 3.50–3.75%,
- while 29.9% believe the rate will remain unchanged.
After the Fed’s most recent 25-basis-point cut, market expectations have shifted toward further monetary easing by year-end.
Meanwhile, the U.S. Dollar Index rose by 0.8%, putting additional pressure on risk assets such as tech stocks and cryptocurrencies. Investors are rotating capital into U.S. government bonds.
The crypto sentiment index fell to its lowest level in nearly seven months on Tuesday — down to 18 out of 100 — as broader stock and crypto markets reacted to sweeping global tariffs imposed by U.S. President Donald Trump, which took effect that day.
“Extreme Fear” as Bitcoin Slides
The last time the crypto Fear & Greed Index fell to “Extreme Fear” was on October 22, reaching 25 out of 100 after Bitcoin’s price declined from above $110,000 to below $108,000. The index has fluctuated between “Extreme Fear” and “Neutral” since the sharp drop on October 9–10, when Bitcoin cooled rapidly from its October 6 high above $126,000. Before that crash, the index hit a one-month peak of 74 points — “Greed” — on October 5.
BlackRock Starts Dumping Bitcoin Again
The sharp market downturn has deepened following reports that global investment giant BlackRock has once again begun selling large amounts of Bitcoin. According to blockchain analytics data, the company has sold about 24,000 BTC, worth approximately $2.75 billion, and continues to offload its holdings every hour.
This move has sparked a new wave of panic among investors, adding pressure to an already fragile market. Analysts believe that such actions by institutional players like BlackRock may have triggered the latest market sell-off. The sales coincided with a strengthening U.S. dollar and a drop in expectations for a December Fed rate cut, prompting a massive outflow of capital from risk assets, including cryptocurrencies.
Amid the broad market decline, Zcash stands out: the privacy coin gained 18%, reaching a new seven-year high of $466, defying the overall bearish trend.
Bitcoin-linked ETFs saw net outflows of nearly $800 million last week, while institutional inflows fell below daily mining output for the first time in seven months.
Crypto bulls, however, remain hopeful for a so-called “Moonvember” — historically, Bitcoin has gained more than 42% on average in November, traditionally one of its strongest months.