The Crypto Sell-Off Nobody Saw Coming
The mood across the crypto market turned bleak this week as investors rushed to exit positions, wiping out roughly $230 billion in value within a single day.
Confidence evaporated quickly, with sentiment indicators falling to their lowest levels in months.
CoinMarketCap’s Fear & Greed Index dropped to 28, signaling widespread anxiety reminiscent of April’s market slump. Total capitalization for all digital assets slipped to about $3.54 trillion, down 6% overnight – one of the sharpest declines of the year. The downturn came alongside growing tension in traditional markets, where concerns over bad loans, credit strain, and U.S.-China trade disputes rattled Wall Street.
Leading cryptocurrencies bore the brunt of the…
