Bitcoin (BTC) slid near $62,500 as the Crypto Fear and Greed Index hit 10. Bitcoin fear this extreme has appeared only near past cycle bottoms.

The index sat at 8 a day earlier and at 47 a month ago. Two widely followed momentum charts show why the drop happened and what could signal a turn.

Momentum Broke First, Then Price Followed

A Glassnode chart shared by analyst BitcoinVector tracks Bitcoin price, price momentum, and spot cumulative volume delta side by side. Momentum fell below the +0.5 threshold well before price broke down.

The same chart shows spot demand weakening at that moment. Cumulative volume delta flipped to roughly negative 1,000, a sign that aggressive sellers took control on spot exchanges. Momentum now sits pinned at…