The crypto market has been hit by deep anxiety and fear for the first time since April, after the price of Bitcoin fell to $103,000, signaling a sharp change in investor sentiment.
The Crypto Fear and Greed Index is currently at 22, reflecting extreme fear compared to a reading 64 weeks ago when the market was still greedy and optimistic.
The fall in Bitcoin prices since October 10 has triggered a massive sell-off and more than 300,000 accounts were liquidated worth more than $1.2 billion in 24 hours.
Some analysts expect the selling pressure to continue before the market recovers by the end of the month, while others believe the bull run cycle is over.
However, the market showed a slight recovery after Trump said tariffs on China would not be implemented and confirmed his meeting with President Xi in two weeks, which eased some concerns.
