Bitcoin Price Plummets 3%, Falls into Extreme Fear Territory

Bitcoin's price plummeted on Thursday, erasing most of its gains from earlier in the week. The cryptocurrency market is experiencing a bear trend, with Bitcoin's Fear & Greed Index dropping to 15, indicating extreme fear among investors.

On Monday, Bitcoin surged but then headed into a downtrend, only to lose ground by early Thursday. This instability is attributed to a lengthy bear trend in 2026. The coin fell 3% on Thursday and dropped to $63,261 (BTC/USD), while Ethereum (ETH) declined by 2.47%

The crypto market is behaving differently from the US stock markets, which are experiencing gains in financial, travel, and other cyclical stocks due to news of an Iran-US peace agreement.

Investor support for Bitcoin is declining, with outflows of $86.02 million reported on June 17th for Bitcoin ETFs, while Ethereum ETF outflows exceeded $29 million.