Overview
- Bitcoin erased last week’s rebound above $70,000 and traded near $65,000 as the Crypto Fear & Greed Index fell to 5, a record extreme fear reading.
- Standard Chartered cited continued ETF outflows and macro headwinds in cutting forecasts, noting ETF holdings are down nearly 100,000 BTC since October and that $276 million exited on Wednesday.
- Derivatives stress persisted with more than $280 million in liquidations over 24 hours and futures open interest sliding to about $45 billion, the lowest since late 2024.
- Crypto moved in lockstep with a tech selloff as the Nasdaq fell and the software ETF dropped roughly 3%, while crypto-exposed stocks such as Coinbase and Robinhood declined during the session.
- Coinbase reported a $667 million Q4 loss on roughly 20% lower revenue year over year, underscoring reduced trading activity during the market downturn.