Analysts pointed to mounting retail stress, sharp bursts in social chatter, and renewed caution over a deeper market sell-off as major cryptocurrencies continued to trade under pressure.
Bitcoin fell to its lowest level since May on Sunday before recovering modestly, with overall sentiment stuck in “extreme fear.” The Crypto Fear & Greed Index stayed at 10 for a second straight day, signaling deep uncertainty across the market.
Bitcoin (BTC: $92,115.54) hovered near $95,087 at 6:20 p.m. UTC, down 1% over the past 24 hours after briefly slipping below $94,000, its weakest print since May 6, according to TradingView.
Altcoins mirrored the downturn: ether (ETH) dropped 3.23% to $3,113, XRP fell 2.1% to $2.21, BNB slid 1.6% to $926.21, and solana (SOL) declined 3.6% to $137.79.
On X, analyst Ali Martinez warned that bitcoin’s breakdown from a key price channel could open the door to a move toward $83,500. Analyst Benjamin Cowen noted that a recent death cross—where the 50-day moving average falls below the 200-day—has historically aligned with local bottoms in the current cycle. He said bitcoin needs to rebound within the next week to keep the cycle intact, cautioning that failure could trigger another drop before any broader recovery. “Trade the market you have, not the market you want,” he reminded traders.
Market strategist Charlie Bilello highlighted a striking performance gap: gold is up 55% this year, making it 2025’s top-performing major asset, while bitcoin — up about 1% — is the worst. He called the divergence the reverse of 2013 and said no previous year has shown such a contrast.
Macro developments added pressure. U.S. Treasury Secretary Scott Bessent said President Donald Trump’s plan to issue $2,000 tariff-funded dividend payments to citizens still requires congressional approval. Markets initially rallied on the proposal, with traders anticipating stronger consumer spending and potential crypto inflows if the payouts materialized.
Some analysts, however, see signs the market may be nearing exhaustion. Market intelligence firm Santiment reported that bitcoin’s social dominance surged to a four-month high during Friday’s drop below $95,000, reflecting heightened retail fear. Such spikes have historically preceded reversals, though the firm stressed the pattern is not guaranteed.
In a potential positive catalyst, MicroStrategy (MSTR) Executive Chairman Michael Saylor hinted at a new bitcoin purchase, posting “Big Week” on X alongside a StrategyTracker screenshot. The company is expected to announce details on Monday, offering a rare source of optimism in an otherwise uneasy market.
