Bitcoin Careens Toward $100K as Morning Bounce Fails

Bitcoin BTC$101,373.83 continued to slide on Tuesday U.S. hours, falling below $102,000 and taking out the lows of the October 10 crash.

The largest crypto plunged 4.5% over the past 24 hours and 11.8% over the past seven days to near $101,900, its weakest since late June.

Ethereum’s ether ETH$3,388.95 also fell below the crash lows at around $3,410, the lowest in three months and down nearly 6% today. XRP$2.2489, BNB BNB$932.19, Solana’s SOL SOL$158.87, DOGE$0.1623 and Cardano’s ADA ADA$0.5346 declined 5%-7% during the same period. The whole group is down by 15%-20% over the past week.

Crypto-related stocks weren’t spared either. Strategy (MSTR), the largest corporate BTC owner, tumbled another 5% to its weakest price since April. Crypto exchange Coinbase (COIN) and digital asset investment firm Galaxy (GLXY) declined by similar amounts.

Investor sentiment deteriorated alongside the price action. The well-followed sentiment indicator, the Fear & Greed Index, fell to 21, indicating “extreme fear” on the market. That’s the metric’s most depressed reading since early April, when BTC fell below $75,000 during the tariff tantrum.

The collapse of the bitcoin treasury company bubble continues to reverberate, with those previous accumulators of BTC having begun turning sellers. Paris-based Sequans early Tuesday announced the sale of 970 BTC in order to help pay down previously accumulated debt.