Bitcoin Slips to $93,000 as Fear Index Hits Extreme Levels

Bitcoin briefly touched $93,000 in early Asian trading on Monday before rebounding, BeInCrypto reports. This fall wiped out all gains made in 2025 and triggered $510 mln in liquidations over 24 hours. The sudden drop pushed the Fear and Greed Index down to 10, signalling extreme fear among traders.

Sharp Decline Erases All 2025 Progress

The correction has stripped nearly 24% from Bitcoin’s early October peak of $126,000. The low at $93,000 represented a psychological and technical break that reset year-to-date returns to zero.

Usual weekend trend also reversed. After several weeks of weekend strength, Bitcoin fell instead, which analyst KillaXBT described as a bearish signal heading into Monday. Based on 300 days of data, this pattern gives a roughly 36% chance that Monday could form a short-term bottom.

Market sentiment fell sharply with the price. The Fear and Greed Index slid to 10, down from 12 in the previous reading, a stark contrast to the late November 2024 reading of 93 when the market was riding high.

Liquidations Surge Across Derivatives Markets

The price crash triggered a wave of liquidations in crypto derivatives. More than 150,000 traders were liquidated within 24 hours, totalling over $510 mln. Long positions took the hardest hit, losing $40.37 mln in one hour and $77 mln across four hours.

Bitcoin accounted for $41.61 mln in long liquidations, with Ethereum losing $13.99 mln. Other major coins including Solana, XRP and Dogecoin also saw multi-million-dollar losses as they followed Bitcoin lower.

Key Support Levels Will Decide the Next Move

Analyst KillaXBT highlighted several critical support zones that could determine Bitcoin’s near-term direction. The first is at $94,100 with stronger support expected at $93,500, which is the year’s opening level, and the range between $89,000 and $91,000.

These zones usually attract high trading activity and open interest, making them important technical areas. Even so, the analyst cautioned traders against using high leverage due to continued volatility. With price swings of 4-5%, overleveraged positions face elevated risk.

A firm break below $85,000 would invalidate bullish scenarios and signal a deeper trend reversal. If buyers step in at lower support levels, Bitcoin could attempt to reclaim the $100,000 mark, though resistance at $98,300 must be cleared first.

With sentiment at extreme fear and major liquidations already behind it, the market has entered a critical phase. Whether buyers defend support zones or sellers push the price further down will shape Bitcoin’s direction through November and into the end of the year.