The Bitcoin price today sits at $59,324, reflecting intense selling pressure across all significant timeframes. According to The Cryptonomist, the Crypto Fear & Greed Index reads 15, Extreme Fear, indicating a market in a state of panic.
The daily chart shows a full bear stack, with every major moving average sitting above price and acting as resistance rather than support. The EMA200 at $76,703 serves as a stark reminder of how far the market has traveled from its highs.
A key concern is Strategy's reported plan to sell up to $1.25 billion in Bitcoin, adding institutional supply pressure to an already fragile market. This move could reshape positioning and keep buyers firmly on the sidelines.