Bitcoin and Ethereum Drop 7% Amid Rising Market Fear and Mounting Liquidations

The cryptocurrency market experienced a sharp downturn, with Bitcoin (BTC) and Ethereum (ETH) each sliding approximately 7%. This decline coincides with a significant spike in market fear, as measured by the Crypto Fear & Greed Index, and a surge in leveraged position liquidations across major exchanges. Analysts point to increased selling pressure and a cautious macro environment as key drivers behind the sell-off. The mounting liquidations exacerbate the downward momentum, creating a volatile climate for traders. Market participants are closely watching key support levels for both BTC and ETH to gauge the potential for further losses or a near-term stabilization.