- Crypto Fear & Greed Index plunges to 28, signaling a sharp shift to “fear” as the market loses over $230 billion in value in one day.
- Bitcoin drops 6% to around $105,000, while Ethereum, Solana, and BNB lead broader declines across major altcoins and memecoins.
- NFTs and ETFs also face heavy losses, with NFT market cap slipping below $5 billion and spot Bitcoin ETFs recording $536 million in outflows.
Investor sentiment across the crypto market turned sharply bearish this week, as panic selling erased more than $230 billion in market value in a single day. The downturn followed broader financial anxiety from Wall Street and worsening US-China trade tensions, amplifying risk-off sentiment among both institutional and retail investors.
According to CoinMarketCap’s Crypto Fear & Greed Index, the gauge plunged to 28, firmly in the “fear” zone its lowest level since April 2025 reflecting increasing investor concern over volatility, momentum, and social trends across major cryptocurrencies.
On Friday, the total crypto market capitalization dropped from $3.78 trillion to $3.54 trillion, marking a 6% daily decline and one of the steepest single-day losses of the year.
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Traditional markets also echoed the crypto sector’s nervous tone, with the equities Fear & Greed Index sliding to 22 (“extreme fear”), as worries over credit market stress, regional bank debt, and trade uncertainty pressured US stocks.
Bitcoin and major altcoins extend losses
The sell-off hit nearly every major cryptocurrency.
- Bitcoin (BTC) fell 6%, dipping to around $105,000, its lowest in weeks.
- Ethereum (ETH) dropped 8% to approximately $3,700, while
- BNB led large-cap declines with a 12% slide to roughly $1,065.
- Chainlink (LINK) dropped 11%, and Cardano (ADA) fell 9%, continuing their week-long downturns.
- Solana (SOL) and XRP each lost 7%, extending double-digit declines from earlier in October.
Across the board, top non-stablecoin assets fell by an average of 8–9% in just 24 hours.
Although last week’s flash crash triggered nearly $20 billion in leveraged liquidations, this week’s correction saw more moderate activity.
CoinGlass data showed $556 million in total liquidations, including $451 million in long positions suggesting traders remain heavily tilted toward bullish leverage even amid volatility.
NFTs, memecoins, and ETFs also take a hit
The latest downturn rippled across NFTs, memecoins, and crypto ETFs, erasing gains made earlier in the week.
- Memecoins, which had shown brief signs of recovery, plunged 33% in 24 hours, with major tokens like DOGE and PEPE losing around 10% each. Trading volumes, however, remained high at nearly $10 billion, suggesting ongoing speculative activity.
- The NFT market suffered a reversal after rebounding from last week’s $1.2 billion crash. According to CoinGecko, the sector’s capitalization dropped below $5 billion, its lowest level since July, with most blue-chip collections like BAYC and CryptoPunks down double digits.
- Meanwhile, spot Bitcoin ETFs recorded $536 million in outflows, and Ether ETFs saw another $56 million, reflecting institutional investors’ flight from risk following the crash.
Market outlook: fear at multi-month highs
The rapid fall in the Fear & Greed Index and multi-sector declines highlight a fragile market environment.
Analysts note that while leveraged liquidations have eased since last week’s flash crash, investor confidence remains weak amid rising macroeconomic uncertainty.
Unless liquidity stabilizes and ETF inflows resume, the crypto market may continue to trade under “fear” conditions in the short term with Bitcoin’s next key support seen near $100,000 and Ethereum at $3,500.
The crypto market has entered another period of heightened fear and volatility, as a $230 billion wipeout drags both digital and traditional assets lower. With investor sentiment at its weakest since spring, markets now face a critical test of resilience heading into the final quarter of 2025.
