Bitcoin Takes a Hit as Market Sentiment Hits New Lows

Bitcoin and other major cryptocurrencies have seen a decline in value as 'Extreme Fear' sentiment grips the market. According to data, Bitcoin dropped back into the $65,000 range after nearing $67,000.

The overall crypto market cap slipped slightly to $2.25 trillion amid mixed stock market performance. Analyst Michaël van de Poppe highlighted $64,000 as a crucial support level for Bitcoin; holding above it could lead to gains toward $74,000-$79,000, while failing it may trigger new lows.

Over $340 million was liquidated in 24 hours, reflecting high market volatility and 'Extreme Fear' sentiment. This decline comes on the heels of a recent rally driven by eased geopolitical tensions after US President Trump announced progress in Middle East talks and reopening of the Strait of Hormuz.