Bitcoin eyes $100,000 as fears mount and altcoins lose steam

Key Takeaways

How critical is the present crypto market sell-off?

Bitcoin and Ethereum are each down 11% previously seven days, and altcoins have suffered even greater losses.

What does investor sentiment appear like?

The Crypto Worry & Greed Index has crashed to twenty-eight, excessive worry territory, and the bottom studying in over a month.

Bitcoin’s fourth straight day of decline has elevated worry available in the market, pushing the broader crypto sector into worry territory.

Ethereum [ETH] and most altcoins have mirrored the downtrend, wiping out every week’s price of positive factors as merchants brace for a potential additional draw back.

Bitcoin and Ethereum are down greater than 10% in seven days

In accordance with CoinMarketCap knowledge, Bitcoin [BTC] has misplaced virtually 11% over the previous week and is right down to round $104,000 on the time of writing.

This transfer extends the correction from the $125,000 peak reached earlier this month. It brings it dangerously near the psychological degree of $100,000, a zone final examined in June 2025.

Ethereum has achieved barely higher. The second-largest cryptocurrency has additionally fallen about 11% to commerce round $3,700 after failing to keep up momentum above $4,300 earlier in October.

4 straight days of purple candles now threaten to tug ETH again into the $3,000 vary except purchaser demand returns.

The Altcoin market is struggling to carry on

The broader altcoin market has been hit even tougher than Bitcoin and Ethereum. In accordance with CoinMarketCap, a number of main property have recorded double-digit losses over the previous week.

Cardano is among the many high 20 cryptocurrencies [ADA] Dogecoin fell 20.8% [DOGE] fell by 24.2%, and Solana [SOL] fell by 16.1%.

Layer-1 networks, comparable to Avalanche [AVAX] and Sui [SUI]additionally noticed steep corrections of 26.1% and 25.8% respectively – underscoring the severity of the sell-off.

The Altcoin Season Index presently stands at 28, indicating that the market has decisively returned to Bitcoin dominance.

Supply: CoinMarketCap

The full altcoin market cap is nearly $1.46 trillion, up from about $1.7 trillion earlier this week, reflecting investor warning.

Excessive nervousness will increase

The Crypto Worry & Greed Index has fallen to twenty-eight, the bottom degree in additional than a month, indicating that investor sentiment has turned from optimism to warning.

Traditionally, such readings coincide with intervals of market capitulation – or point out potential reversal zones the place promoting stress turns into overextended.

Supply: CoinMarketCap

Volatility could persist within the close to time period as merchants weigh macroeconomic uncertainties and liquidation dangers following final week’s sharp downturn.

Eyes on $100,000 help

With each BTC and ETH pulling again, the important thing ranges to look at are $100,000 for Bitcoin and $3,500 for Ethereum.

A decisive break beneath these thresholds might set off additional liquidations and push the full cryptocurrency market cap beneath the $4 trillion mark.

Conversely, if consumers defend this help and the Worry & Greed Index begins to get well, the correction might give technique to consolidation earlier than a possible restoration emerges in late October.