- Bitcoin plunged over 4% to $64,300, triggering $458 million in trader liquidations.
- The Crypto Fear and Greed Index fell back to 5, its lowest level since 2018.
- Analyst Michaël van de Poppe noted Bitcoin’s Sharpe Ratio is at -38.4, a historic level signaling a potential low-risk accumulation zone.
Bitcoin faced a sharp selloff on Monday, tumbling more than 4% to $64,300 and erasing its gains from the prior weekend. Consequently, over 136,000 traders were liquidated in 24 hours, with total liquidations sitting at $458 million according to CoinGlass.
The selloff sent the Crypto Fear and Greed Index back down to 5, signaling a state of extreme market fear. This reading matches the index’s historic lows, including those seen in June 2022 and earlier this month.
Meanwhile, on-chain analytics provider Glassnode reported that recent investors are still capitulating. The firm stated, “While the intensity has cooled, the broader regime still signals a market under pressure.”
Analyst Michaël van de Poppe highlighted a “phenomenal chart” showing Bitcoin’s Sharpe Ratio at -38.4. This ratio, which measures risk-adjusted return, has only been lower twice in Bitcoin’s history.
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