Crypto Market Plunge: $1.2 Billion in Long Liquidations Triggered by Fear and FUD

A significant downturn in the cryptocurrency market triggered over $1.2 billion in liquidations as investors grappled with a sudden drop in prices. Bitcoin (BTC) and Ethereum (ETH) ETFs witnessed outflows exceeding $322 million, reflecting growing concerns among institutions, while the Fear & Greed Index plummeted to 21, indicating extreme fear within the market. Traders sought to hedge their positions amidst this volatility, resulting in a rapid decline of over 3% for Bitcoin and 6.5% for Ethereum.