Crypto prices today eased again with traders stepping back rather than chasing market dips.
- Crypto prices today fell as traders reduced risk, with sentiment sliding back into extreme fear.
- Macro pressure from higher U.S. yields and ongoing tariff uncertainty kept investors cautious.
- On-chain data shows selling pressure remains, but a true capitulation bottom has not yet formed.
The total market cap is down about 2% to $3.4 trillion. Bitcoin is trading around $101,832, down 1.9% over the past day. Ethereum has slipped 3% to $3,337. XRP is lower by 5.5% at $2.20, while BNB is holding relatively steady at $964, down 0.3%.
The Crypto Fear & Greed Index has fallen 3 points from yesterday to 24, returning to the “extreme fear” range. That shift reflects a market that has yet to regain confidence after October’s leveraged shakeout.
Coinglass data shows $587 million in liquidations over the past 24 hours, an 83% rise, while open interest dipped 0.43% to $143 billion, pointing to quieter positioning across futures markets.
Macro pressure and tariff anxiety set the tone
Much of the hesitation comes from macro conditions. The Federal Reserve has adopted a slower approach to interest rate cuts, helping lift Treasury yields and strengthen the dollar. When yields rise, investors often move toward bonds and away from high-risk assets. Stocks faced similar pressure yesterday, with the Nasdaq sliding more than 1%.
The hesitant tone is also a continuation of October’s leverage flush, when Bitcoin dropped from $122,500 to $104,600, clearing out a large portion of speculative positions. With liquidity still thin, even small sell orders can pull prices lower
Meanwhile, ongoing tariff uncertainty between the U.S. and China has kept global risk appetite weak. Investors are unsure whether additional trade measures will be announced, and this has made markets defensive across equities, commodities, and digital assets.
What on-chain trends indicate now
On-chain data from CryptoQuant suggests that selling pressure remains present, but a final capitulation phase has not yet been reached. Bitcoin reserves on Binance have continued to rise, meaning more coins are being moved onto the exchange side. In most market phases, this behavior reflects an intent to sell rather than accumulate.
A related measure, the Coinbase Premium Index, remains negative. When this index sits below neutral levels, it implies that U.S. spot buyers, including large funds and institutions, are not stepping in at current prices. In previous recovery phases, these buyers were often the first to return. Their absence here suggests weak demand in the near term.
At the same time, there is no clear sign yet of short-term holders capitulating. In earlier cycle lows, this group tended to sell heavily at a loss before a durable bottom formed. That signal has not appeared, which suggests the market may need more time before stronger recovery conditions develop.
