Bitcoin Touches $93K Low as Market Sentiment Hits Extreme Fear
Bitcoin briefly fell to $93,000 in Asia on Monday, then recovered, leading to $510 million in 24-hour liquidations and erasing all gains through 2025. This sharp move raised the Fear and Greed Index to 10, indicating extreme fear among investors.
Market analysts are monitoring key support zones to assess whether Bitcoin can recover or face further downside in the coming days.
Bitcoin’s latest correction erased about 24% from its early October high of $126,000. The drop to $93,000 marked a significant psychological and technical collapse and officially invalidated all annual returns for 2025.
Weekend price trends changed significantly. For the first time in several weeks, Bitcoin fell rather than rose over the weekend, creating what market analyst KillaXBT called a bearish trend heading into Monday. Using 300 days of historical data, this model shows a 36% probability of making a near-term low on Monday.
Market sentiment fell along with the price. The Crypto Fear and Greed Index fell to 10, dropping two points from the previous reading and registering extreme fear. This marks a marked reversal from the end of November 2024, when the index reached 93 amid market exuberance.
The price crash led to a series of liquidations in crypto derivatives markets. Within 24 hours, exchanges liquidated more than 150,000 investors, resulting in a total close of over $510 million. Long positions suffered the most, losing $40.37 million in a single hour and $77 million in four hours.
In long liquidations, Bitcoin was worth $41.61 million, followed by Ethereum with $13.99 million. Other cryptocurrencies such as Solana, XRP and Dogecoin have also seen liquidations worth millions of dollars as prices follow Bitcoin’s decline.
Market analyst KillaXBT noted several key support zones for Bitcoin’s short-term direction. Currently the focus is on $94,100, with more important support expected to be at the year’s opening price of $93,500 and the $89,000-$91,000 range.
