Bitcoin gave up $104,000 for the first time in weeks, while traders warned of a return to sub-$100,000 levels and new buyers amassed unrealized losses.
Bitcoin’s fall below $106,000 sent crypto sentiment into “Extreme Fear,” with the Fear & Greed Index plunging to its lowest level in nearly seven months.
Market maker Wintermute has shot down rumors suggesting it plans to sue Binance in relation to a flash crash last month, when Bitcoin fell 15.2% to below $103,000.
Bitcoin and altcoins’ early November performance mirrors that of October, when the market disregarded historical trends and fell to new lows. Will bulls show any interest in buying the range lows?