Crypto Markets Slide 1.5% Amid Extreme Fear as SEC Loosens ETF Rules
The cryptocurrency market cap fell to $2.41 trillion, with Bitcoin and Ethereum leading losses. BTC dipped 1.18% to $68,056.24, while ETH slid 1.52% to $2,053.82. Fear & Greed Index hit 8—deepest fear since January—as FTX began repaying $2.2B to creditors.
Regulatory shifts dominated: The SEC removed options trading limits for spot Bitcoin ETFs, potentially unlocking institutional liquidity. Meanwhile, altcoins diverged sharply—SIREN surged 160%, while Quant and Decred underperformed.
Trading volumes reached $70.5B, with BTC maintaining 56.1% dominance. Memecoins like PEPE and WIF defied the downtrend, suggesting retail speculation persists despite macroeconomic caution.