Bitcoin's sharp decline intensified early Friday, plunging to $96,000 as market fear deepened and ETF outflows surged.
The Crypto Fear and Greed Index dropped to 22, one of the lowest points of the year.
Spot Bitcoin ETFs saw the second-largest outflow day in history, with $869.9 million net outflows on Thursday.
Ethereum ETFs also posted heavy redemptions, with $259.7 million in net outflows.
$1.11 billion in positions were liquidated, impacting more than 248,506 traders reflecting a spike in volatility.
4-Year Cycle Not Active Anymore
Ted Pillows noted that all three of Bitcoin's previous bear markets began with a death cross, and another one is now approaching. He questioned whether this cycle will finally break the pattern..
Michael van de Poppe said Bitcoin must reclaim $101,000 to confirm any serious trend reversal. He added that traders broadly believe the 4-year cycle has already peaked, and that sentiment needs to reset before Bitcoin can move higher.
Crypto chart analyst Ali Martinez pointed out that 2.53 million Ethereum were accumulated around $3,150, making it a major support zone for ETH
For Solana, Martinez warned that support is thin below $144, with the next meaningful demand area around $124.
Trader CW said XRP is back in a buy zone.
The meme coin market cap fell 5.8% to $53.2 billion, mirroring broader risk-off sentiment.
Trader Tardigrade highlighted that Dogecoin continues to form a multi-year 5-year triangle pattern on the 6-month chart, with a potential breakout target near $1.20.
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