- Bitcoin dropped to approximately $76,400, while more than $1.6 billion in crypto positions were liquidated within 24 hours.
- The Crypto Fear & Greed Index fell from 51 to 30, its lowest reading since mid-August, although it remains above the extreme fear threshold of 25.
- Santiment identifies $76,400 as key downside support and $80,000 as the recovery level, while Ethereum fell below $2,200.
Crypto markets fell sharply during Halloween week after a reported $6.3 billion Binance security breach triggered widespread selling. Bitcoin briefly dropped to about $76,400, while more than $1.6 billion in positions were liquidated within 24 hours. Santiment Intelligence and analyst Darkfost tracked the decline, alongside a steep fall in market sentiment.
Bitcoin’s Drop Spreads Across Major Crypto Assets
Santiment said Bitcoin’s slide dragged most major digital assets lower. The token touched roughly $76,400, while Darkfost placed its six-week low near $76,500. Bitcoin lost around 4% to 5% over 24 hours.
Ethereum also weakened, falling below $2,200. Meanwhile, Santiment identified PEPE, SKY, and Bitcoin Cash as a few assets trading higher. PEPE gained 5% after exploit-related selling disrupted several tokens. SKY rose 4%, while BCH added 2%.
Santiment said BCH had recorded stronger buy-side flow than most large-cap assets. However, several other tokens faced heavier losses. M fell 9%, while ENA and sENA declined 8%. PUMP also dropped 9% during the market selloff.
Fear Index Falls to Its Lowest Since August
The price declines coincided with a sharp change in investor sentiment. Darkfost said the Crypto Fear & Greed Index fell from 51 to 30 in one day. The reading was its lowest since mid-August.
However, Darkfost noted that 30 does not qualify as extreme fear. The index must fall below 25 to enter that category. Therefore, the analyst said fear could persist for some time.
Darkfost also distinguished the latest decline from selloffs driven by deteriorating market fundamentals. The analyst attributed part of the pressure to the Binance incident. Darkfost said previous periods of pessimism had often coincided with accumulation zones.
Bitcoin’s $76,400 Low and $80,000 Recovery Level
Santiment set $76,400 as Bitcoin’s downside marker and $80,000 as its recovery level. Holding above the reported low while reclaiming $80,000 would indicate that panic is easing, according to the firm.
A decisive move below $76,000 would keep the market in risk-off conditions. It said isolated altcoin gains would not prove a broader recovery.
