Bitcoin Price Plunges Below $63,000 Amid Market Turmoil

Bitcoin's price has been under pressure in recent days, falling below $63,000. According to data from various exchanges, the cryptocurrency dipped towards $62,700 before stabilizing. This decline comes amid a broader market sell-off, with the total crypto market cap hovering near $2.25 trillion.

The Fear and Greed Index has hit extreme lows, indicating high levels of fear among investors. This index is a widely followed metric that measures market sentiment, with low readings typically suggesting that markets are oversold. Analysts warn that deleveraging is ongoing, with liquidity remaining thin and funding rates negative.