Fear index drops to 10! Bitcoin plunges from 126,000 to 98,000, what happened behind the $19 billion liquidation?

Question

[Crypto World] Market sentiment has exploded. The Fear and Greed Index hit a low of 10, now climbing back to 21—what does this mean? Extreme fear.

Bitcoin plunged from $126,000 all the way down to $98,000, triggered by that wave of geopolitical news on October 10. Leverage traders suffered massive losses, with total liquidations across the network exceeding $19 billion. Altcoins fared even worse—mainstream coins like SOL and XRP were slashed in half, with drops of over 40%.

Retail investors? They’re already starting to pull out. Google searches for “Bitcoin” have dropped to mid-cycle adjustment levels, and ETF inflows have also reversed. What’s even stranger is that traditional markets are still rising, yet Bitcoin is moving in the exact opposite direction.

Now analysts are fiercely debating: is this the start of a bear market, or just a deep correction within the cycle? Looking at the data, both sides can make a case.

ETHReserveBank · Accepted Answer

$1.9 billion in liquidations, this time it’s really brutal.

Leverage traders took a big hit again, serves them right.

SOL got cut in half? I got out long ago, haha.

Index dropped to 10, ever seen that? Now that’s real panic.

Traditional markets are up while crypto is down, that contrast is just insane.

Analysts are still arguing, but I just look at the data.

Bear market or just a correction, either way I’ve secured my base position.

Retail investors pulling out is the right move, when it’s time to clear the field, it’s time to clear the field.

This drop is actually just a shakeout, let’s just watch.

TheMemefather · Answer

$1.9 billion in liquidations, this time it's really brutal, leveraged traders took a huge loss

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Index drops to 10? I knew this was a bottom signal, time to buy the dip

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SOL was cut in half directly, now this is a real shakeout

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Traditional markets are up while crypto is down, this move is a bit crazy

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Retail investors leaving is the right move, only those who stay will make money

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Fear index at 21 is still too high, if it drops a bit more I'll go all in

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This round of geopolitical news is simply a gift for the bears

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Bear market or just a correction? Just look at ETF flows

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Leverage players got another lesson, hope you all learned this time

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Bitcoin is moving independently, no longer following the US stock market step by step

SandwichTrader · Answer

$1.9 billion in liquidations, retail investors are getting hit again

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When the index dropped to 10, I just laughed. The leverage players really went all in this time.

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SOL down 40%? It should have dropped a long time ago, this coin was way overhyped.

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Traditional markets are up while Bitcoin is down, this decoupling really feels weird.

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Analysts are arguing again? They’re never accurate, it’s always better to trust your own judgment.

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Another geopolitical event stirring things up, it’s always the same playbook.

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The signal of retail investors pulling out is the most worth watching. Ordinary people's instincts are often the sharpest.

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Is it a bear market or just a correction? We’ll know if it can rebound back to 120,000.

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$1.9 billion in liquidations overnight, how many accounts got wiped out?

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ETF outflows, now that’s the real danger signal.

MEVHunterZhang · Answer

$1.9 billion in liquidations, the leveraged guys really took a huge loss

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When the index was at 10, it felt truly hopeless. Now it's at 21, but there's nothing to be happy about.

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Did SOL and XRP get cut in half? Am I seeing this right? That's just brutal.

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Retail investors have fled, and smart people should have sold everything long ago.

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Traditional markets are up while Bitcoin is down—this kind of reverse movement is really wild.

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From 12.6 to 9.8, this round of geopolitical news is killing people.

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Is this a bear market or just a correction? Whatever, I'm losing money anyway.

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Even ETFs are going in the opposite direction, are institutions pulling out too?

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Leverage players really got drained this time, $1.9 billion just vanished like that.

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Judging from the fear index, are we near the bottom? Or will it keep dropping?