The crypto market showed early recovery signs, yet last week’s crash reshaped sentiment again. Fear returned sharply across digital assets, while Asian stock losses added more pressure. At press time, the broader Fear & Greed Index stood at 8. Bitcoin’s reading was slightly stronger at 12.
Market sentiment slipped back into “extreme fear” after the recent sell-off. Earlier in the year, similar fear levels gave way to neutral readings near 50 during the second quarter. Search interest also climbed fast. Google searches tied to crypto rose from around 170 to above 320. That jump added to market anxiety, since search spikes often appear during rallies and major crashes.
This week could bring heavy volatility, and the next move may lean lower. The question now is simple: can the market absorb another shock without deeper losses?
The panic widened when Asian equities opened under pressure. South Korea’s KOSPI fell 8.40% at the time of writing. The drop triggered a circuit breaker as trading paused briefly. Samsung and SK Hynix also posted steep losses. Samsung fell 8.66%, while SK Hynix dropped 5.12%. The move marked the largest single-day wipeout since March 4.
The wider Asian sell-off erased about $1.5 trillion. Japan lost $385 billion, Taiwan lost $235 billion, and China shed $310 billion. Hong Kong and India also fell, with losses of $108 billion and $42 billion.
Crypto markets moved lower as the stock rout spread. More than 104,157 traders got liquidated during the Asian crash. Total liquidations reached $628 million, according to market data.
The largest single liquidation hit Binance’s BTC market and reached $12 million. Over the past week, CoinGlass data showed $5.70 billion in long positions wiped out across the market.
In the last 24 hours alone, over $280 million was liquidated. Long positions made up most of the damage. Bitcoin’s open interest also fell 0.56% over the same period.
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Bitcoin traded between $62,000 and $64,000, while volume weakened. Ethereum briefly moved above $1,700 before easing back to $1,660. Meanwhile, crypto-linked stocks moved higher, with Strategy Inc. rising 5.61% and Bitmine Immersion Technologies gaining 5.97%.
CryptoQuant said derivatives pressure helped drive Bitcoin’s sharp correction. The firm said futures volumes remain nearly ten times larger than spot volumes. Ali Martinez also pointed to Ethereum trading below the 0.8 MVRV band as a long-term accumulation zone.
Crypto sentiment has fallen to extreme fear after the Asian stock sell-off, heavy liquidations, and rising derivatives pressure. Bitcoin still shows more resilience than the broader market, but volatility may stay high. Traders may watch support levels closely as fear continues to shape price moves.