Bitcoin's Brutal Plunge: Market Reels as BTC Dips Below $62K, Sparks FTX Crash Echoes
Bitcoin's price recently plunged to levels not seen since the FTX exchange collapse in November 2022, sliding below the critical “Fire Sale!” band on the Bitcoin Rainbow Chart. This significant downturn occurred as the Fear and Greed Index registered a deeply unsettling reading of 12 out of 100, firmly placing the market in “Extreme Fear” territory. After opening near $63,500, Bitcoin dipped below $62,000 overnight, and even as low as $61,400, before trimming losses slightly to $62,400 on Thursday. The cryptocurrency experienced a 7% decline over 24 hours and more than 14% over the past week, signifying a technical bear market with a 22.7% drop from its four-week high and wiping out over $600 billion in total crypto market value.
The Bitcoin Rainbow Chart, a logarithmic growth curve overlaid with color-coded sentiment bands, designates the
You may also like...
Knicks Shock Spurs in Game 1 Thriller, Fans Banned for Wild Finals Opener!
The New York Knicks stole Game 1 of the 2026 NBA Finals, defeating the San Antonio Spurs 105-95 to take an early 1-0 ser...
Netflix Sensation: Alan Ritchson's Sci-Fi Thriller Dominates Viewing Charts!
Netflix's latest viewership data highlights the success of mid-budget films, with the sci-fi action movie 'War Machine' ...
East Meets West: Kenshi Yonezu, BTS, & Mrs. GREEN APPLE Dominate Billboard Japan Charts!
Kenshi Yonezu's "IRIS OUT" dominates Billboard Japan's 2026 mid-year charts, topping the Japan Hot 100 and Global Japan ...
Unveiled: Drake’s Engineer Spills Secrets on Original ‘ICEMAN’ & Unreleased Tracks!
Drake's recent album trio, including ICEMAN, HABIBTI, and MAID OF HONOUR, has dominated the music scene, with ICEMAN top...
Global Stage: Rema, Davido, Burna Boy & Ayra Starr Represent Nigeria on FIFA World Cup 2026 Album!
The Official FIFA World Cup 2026 Album, set for release on June 5, 2026, features four Nigerian artists: Burna Boy, Rema...
Elijah Wood Unleashes Fury Over Alamo Drafthouse's Broken Mobile Ordering System
Alamo Drafthouse Cinemas has unexpectedly shifted its long-standing no-phone policy, now encouraging smartphone use for ...
Bitcoin's Brutal Plunge: Market Reels as BTC Dips Below $62K, Sparks FTX Crash Echoes
Bitcoin's price recently dropped into "Fire Sale!" territory on the Bitcoin Rainbow Chart, a level last seen during the ...
Is $60K the Bottom? Schwab Strategist Hints Bitcoin's Mining Cost Signals Cycle Low
Jim Ferraioli of Charles Schwab argues that Bitcoin's bear market has a structural cost floor around $60,000, rooted in ...
