BTC Breaks Below $94,000 for the First Time Since May as Investor Sentiment Plunges Into ‘Extreme Fear.

Analysts pointed to growing retail anxiety, unusual spikes in social activity, and renewed warnings of a steeper decline as major cryptocurrencies continued to face selling pressure.

Bitcoin briefly sank to its lowest level since May on Sunday before trimming some losses, with market sentiment firmly stuck in “extreme fear.” The Crypto Fear & Greed Index held at 10 for a second day, underscoring the severity of the downturn.

Bitcoin (BTC: $92,115.54) was trading near $95,087 at 6:20 p.m. UTC, down 1% over the past 24 hours after dipping under $94,000 earlier — its weakest level since May 6, per TradingView data.

Major altcoins were also under pressure: ether (ETH) slid 3.23% to $3,113, XRP fell 2.1% to $2.21, BNB dropped 1.6% to $926.21, and solana (SOL) declined 3.6% to $137.79.

On X, analyst Ali Martinez warned that bitcoin’s break below a key channel could pave the way for a deeper move toward $83,500. Analyst Benjamin Cowen highlighted a new death cross, noting that previous occurrences this cycle have often aligned with local bottoms. He said bitcoin must rebound within the next week to maintain the current cycle structure — otherwise, another downturn may precede any move back to the 200-day moving average. He reminded traders to “trade the market you have, not the market you want.”

Market strategist Charlie Bilello observed a striking contrast in asset performance: gold is up 55% in 2025, the best among major assets, while bitcoin — up just 1% — is the worst. He described the divergence as the opposite of 2013 and said such a pattern has never occurred in a previous calendar year.

Macro signals added further pressure. U.S. Treasury Secretary Scott Bessent said President Donald Trump’s plan for $2,000 tariff-funded dividend payments would require congressional approval. The initial proposal had boosted markets, with traders anticipating a wave of consumer spending and possible crypto inflows if the payouts were implemented.

Still, some indicators offer a glimmer of optimism. Market intelligence firm Santiment reported a four-month high in bitcoin-related social chatter during Friday’s slide below $95,000, reflecting intense retail fear. Historically, such spikes in social dominance have sometimes preceded rebounds, though the firm stressed there are no guarantees.

Meanwhile, MicroStrategy (MSTR) Executive Chairman Michael Saylor hinted at another bitcoin purchase, posting “Big Week” on X along with a screenshot from StrategyTracker. The expected announcement on Monday could inject a dose of positive sentiment into an otherwise nervous market.

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