Bitcoin's Weekend Dip to $93K Sparks Extreme Fear and Volatility
Bitcoin dipped to about $93,029 over the weekend, triggering a Death Cross and sparking Extreme Fear among investors. This downturn led to nearly $579 million in liquidations. By Monday morning, Bitcoin recovered slightly to around $95,453, down 0.1% on the day.
The Death Cross, a bearish technical signal, occurs when the 50-day moving average crosses below the 200-day moving average. Analysts attribute this slump to macro uncertainty and missing key U.S. economic data, leaving the December Federal Reserve path unclear. As a result, volatile consolidation is expected within a $90,000–$110,000 range.
Recovery will depend on upcoming macroeconomic data and ETF flows. Sentiment indicators currently show Extreme Fear, with Myriad signaling a roughly 51/49 tilt toward Fear and a 55% chance that Bitcoin will hit $85,000 before reaching $115,000. ETF inflows or clearer regulatory wins could revive demand, whereas a persistent risk-off tone may keep Bitcoin under pressure.
The recent end of the U.S. government shutdown might ease liquidity pressures but is unlikely to be a decisive factor in the near term.
