Bitcoin and Ethereum drop by 7%, increasing fear.

Fear Index in the Cryptocurrency Market is Decreasing

The cryptocurrency market is grappling with an increasing atmosphere of fear as the prices of Bitcoin (BTC) and Ethereum (ETH) have fallen by more than 7%. The Cryptocurrency Fear and Greed Index has dropped to its lowest level this year at 11. Altcoins also followed a similar downward trend.

In the markets, it has been reported that more than 800 million dollars in leveraged positions were liquidated in the last 24 hours. The open position count has decreased to 103 billion dollars, while fear has peaked in the options market. In this situation, it has been revealed that sales are trading at a significantly higher premium compared to call options.

Tensions between the United States and Iran, along with a general risk-averse sentiment, are having a negative impact on high beta assets. Analysts warn that a drop below 70,000 dollars could trigger a new wave of selling.