Selloff deepens as liquidations surge and market fear reaches extremes: Crypto Markets Today

Crypto markets experienced a significant selloff, with Bitcoin (BTC) and Ether (ETH) each falling more than 7%, driven by heavy derivatives liquidations and macroeconomic uncertainty, including U.S.-Iran tensions affecting oil prices. The Crypto Fear and Greed index plunged to 11, signaling extreme bearish sentiment, the lowest level this year. Over $800 million in leveraged positions were liquidated in 24 hours, and open interest dropped to $103 billion. Analysts warn that a break below Bitcoin's key support level of $70,000 could trigger further selling, drawing comparisons to the intense sell-off phase of May 2022. Options markets reflect peak fear, with puts trading at significant premiums over calls, and altcoins broadly followed the decline, though the derivatives exchange token MYX was an outlier with a gain.

(Source：CoinDesk)