Bitcoin has tumbled under the $110,000 mark, briefly touching $108,787 before stabilizing near $109,399 – www.naijnaira.com reports.
Data from CoinGlass confirms the Crypto Fear and Greed Index slid 16 points overnight to 29, signaling that traders are shifting into fear territory.
This downturn follows heavy liquidations earlier in the week, which dragged the global crypto market cap down to about $3.8 trillion from above $4 trillion.
“Fear is clearly back in play,” analysts noted, with the index hovering dangerously close to Extreme Fear levels last recorded in April and February of 2025.
Bitcoin’s current trading zone is below its 30-day moving average of $109,526, a resistance point that could prevent near-term recovery.
If BTC regains momentum above this level, it may retest the $109,700–$109,800 range, offering traders a chance at a relief bounce.
The Relative Strength Index (RSI) sits around 35, brushing oversold conditions that often attract buyers hunting for entry points.
Yet with bearish pressure still strong, Bitcoin risks sliding further into the $109,200–$109,000 support band, where breaking lower could expose $108,800.
Ethereum isn’t spared either, with the token dipping under $4,000 alongside Bitcoin’s slide, both losing about 2% over the past day.
Article updated 6 days ago. Content is written and modified by multiple authors.
