🔴😞 Market Analysis: 24-11-00
Crypto markets wrapped up the week with another bruising session, as Bitcoin tumbled below $81,000—its lowest since the dark days of 2022—and nearly $400 billion evaporated from the global value ledger. The selloff is sweeping, pulling even Ethereum and major altcoins into oversold territory, as a deepening liquidity crunch and relentless selling see put options dominate trading floors. Volatility remains the name of the game: in one flash, Bitcoin slid $3K in seconds on Hyperliquid, echoing flash crashes and rattling nerves across the ecosystem. Meanwhile, the Crypto Fear & Greed Index plummets into “extreme fear,” conjuring imagery of traders staring into the abyss, searching for signs of a bottom.
Short-term, the mood is heavy with risk. Historical parallels to the FTX collapse abound, yet some see generational opportunity lurking amid the rubble: Bitwise’s chief pitches the wreckage as fertile soil for long-term investors willing to weather further drops. Still, with weak U.S. demand, ETF outflows at record levels, and technical indicators flashing red, caution is paramount. Should sentiment tip from capitulation to exhaustion, the next act could be one of cautious accumulation—but until conviction returns, the market dances on a knife’s edge.
- Bitcoin plunges below $81,000, triggering record ETF outflows.
- Crypto market loses nearly $400B in a single week.
- Sentiment indicators at 'extreme fear'—possible bottom, or more pain ahead?