Bitcoin has dropped below $80,000, marking a 14% drop in a week. The leading cryptocurrency is currently trading at $77,800, while Ethereum has fallen to $1,860 – it’s lowest since November 2023. 

This downturn comes amid rising market uncertainty, with sentiment hitting levels not seen since the 2022 bear market.

Crypto market sentiment has plunged into extreme fear. The Crypto Fear & Greed Index, which soared to 92+ last year, now stands at just 17. This shift reflects a broad market correction fueled by significant capital outflows from digital assets. 

In the past four hours, total liquidations have surpassed $195 million, with long positions accounting for.