Bitcoin Price Tanks Below $104,000, Market In ‘Extreme Fear’

Bitcoin’s value has reversed course sharply after hitting an all-time excessive above $126,000 simply two weeks in the past – and the downturn exhibits no signal of letting up. The worth has now fallen into the $104,000 vary, persevering with a multi-day decline that has pushed market sentiment to probably the most cautious degree in months.

At present, the bitcoin value is $105,485, however the value was as little as $103,516 in early morning buying and selling on some exchanges.

Based on the Bitcoin Concern & Greed Index, sentiment is stands now at 22/100, marking a shift to the ‘Excessive Concern’ class. The index, which ranges from 0 (excessive concern) to 100 (excessive greed), is broadly seen as a gauge of investor psychology and potential market turning factors.

Final Friday, on October 10, Bitcoin and the broader crypto market witnessed a drastic and sharp sell-off as President Trump introduced sweeping 100% tariffs and export controls in response to China’s new restrictions on nearly all merchandise beginning November 1, 2025.

The information sparked a pointy cryptocurrency sell-off, with Bitcoin briefly falling 12% and different main cryptocurrencies falling as a lot as 40%.

Now, bitcoin is close to the sell-off low value, with a lot of the broader crypto market following go well with.

Is Bitcoin Going Decrease?

Bitcoin costs fell under $105,000 for the primary time since June, fueling fears of a deeper correction as merchants brace for potential declines within the $90,000s and even $80,000s.

Technical indicators confirmed a weakening of momentum: Bitcoin’s Relative Energy Index fell to 37, whereas the Common Directional Index at 25.23 barely confirmed a downtrend.

On the shorter time period, promoting strain elevated, with the RSI at 32.7 and the ADX rising above 34, indicating sturdy bearish momentum. Charts too revealed a “loss of life cross” sample – a technical sign that always accompanies extended recessions.

As for the Bitcoin Concern & Greed Index, durations of “excessive concern” usually coincide with oversold circumstances, as merchants withdraw from threat and liquidity tightens. Traditionally, such phases have generally preceded native bottoms, though the timing stays unsure attributable to broader market volatility.

The sell-off comes as macro uncertainty weighs on dangerous belongings globally. Bitcoin’s decline displays weak spot in shares and commodities as traders brace for renewed geopolitical tensions and cautious commentary on financial coverage later this week.

Simply two weeks in the past, when Bitcoin was buying and selling above $124,000, the index was at 70, indicating “greed” and highlighting how sharply sentiment has turned.

In the meantime, gold has soared to new all-time highs above $4,350 per ounce, persevering with its outperformance in opposition to Bitcoin to this point this 12 months.