Crypto Market Slides Again as Fear Creeps Back In
The crypto market is once again under pressure — and this time, the warning signs are flashing louder.
Over the past 24 hours, total cryptocurrency market capitalisation dropped 2.4% to $3.1 trillion, with 92 of the top 100 coins posting losses. Trading activity remains high at $152 billion, but sentiment has clearly shifted from optimism to caution.
From Bitcoin slipping below key psychological levels to Ethereum suffering its steepest decline among major assets, today’s market action reflects a broader mood: risk-off is back.
Market Snapshot: Red Across the Board
As of Wednesday morning (UTC), every top 10 cryptocurrency is trading in the red:
Bitcoin (BTC) fell 2.2% to $89,104, dropping below the $90,000 mark
Ethereum (ETH) slid 5% to $2,965, underperforming Bitcoin
BNB declined 4.7% to $874
Dogecoin (DOGE) limited losses to 1.8%, trading at $0.1248
Among the top 100 coins, only eight managed to stay green.
Provenance Blockchain (HASH) led the winners with a 4.9% gain
Canton (CC) followed, up 4.4%
On the losing end:
Monero (XMR) plunged 15.2% to $492
Hyperliquid (HYPE) dropped 8.2% to $21.27
The message is clear: sellers are firmly in control.
Calm on the Surface, Turbulence Beneath
Despite the relatively orderly price action, analysts warn that the calm may be deceptive.
Sean Dawson, Head of Research at Derive.xyz, notes that macro and geopolitical risks are quietly building, particularly rising tensions between the U.S. and Europe. These risks could trigger a sudden shift back to higher volatility — something current spot prices are not fully reflecting.
“Crypto markets appear more risk-averse than in previous cycles, despite historically low realised volatility,” Dawson explains.
Options data backs this up. Traders are increasingly paying a premium for downside protection, with BTC’s 25-delta skew turning sharply negative. This suggests growing expectations of weakness through mid-year.
Notably:
There is now a 30% probability Bitcoin falls below $80,000 by June 26
Put options are heavily concentrated between $75,000–$85,000
Confidence in a strong upside breakout remains fragile
Bitcoin & Ethereum: Key Levels to Watch
Bitcoin (BTC)
Intraday high: $91,320
Intraday low: $87,901
Weekly decline: 6.2%
After testing the $87,900 zone, Bitcoin may revisit:
$86,200
$85,000
A deeper pullback could open the door to $79,000
Ethereum (ETH)
Intraday high: $3,120
Intraday low: $2,924
Weekly decline: 10.9%
If weakness persists, ETH could slide toward:
$2,890
$2,800
$2,760
Unless sentiment improves soon, both majors remain vulnerable.
Fear Returns to the Market
The Crypto Fear & Greed Index tells the emotional story behind the charts.
Yesterday: 45 (Neutral)
Today: 32 (Fear)
This sharp drop highlights growing uncertainty, driven by macroeconomic stress, geopolitical tension, and weakening technical structures.
ETFs Turn Red as Outflows Surge
With U.S. markets reopening, fresh ETF data added more weight to the bearish narrative.
Bitcoin Spot ETFs
$483.38 million in net outflows in a single session
No ETF recorded inflows
Biggest sellers:
Grayscale: -$160.84M
Fidelity: -$151.13M
BlackRock: -$56.87M
Ethereum Spot ETFs
$229.95 million in outflows, ending a recent green streak
BlackRock and Fidelity led the selling
Institutional money is clearly stepping back — at least for now.
Institutions Adapt as Volatility Rises
Not all players are retreating. SkyBridge Capital is leaning further into macro-focused strategies as policy uncertainty under U.S. President Donald Trump fuels volatility.
Founder Anthony Scaramucci emphasized that this is more about timing than fundamentals, noting that Bitcoin’s long-term story remains intact despite near-term turbulence.
At the same time, Delaware Life made history by adding a crypto-linked index to its fixed indexed annuity portfolio — a first for insurance products. This signals that while traders may be fearful, long-term adoption continues quietly in the background.
Final Thoughts: Fragile Confidence, Heavy Caution
Today’s crypto market dip isn’t just another red day — it reflects a deeper shift in sentiment. Traders are hedging, institutions are pulling capital, and fear has re-entered the market.
While long-term fundamentals remain debated, one thing is clear:
The coming weeks could be volatile — and the downside risks are being taken seriously.
For now, crypto is holding its breath.