Crypto Fear & Greed Index Dips to 29 as Bitcoin Slides Below $77,000
Market sentiment plummeted into fear as Bitcoin dropped below $77,000 following a massive reported security breach at Binance.
Crypto Fear & Greed Index Dips to 29 as Bitcoin Slides Below $77,000
Market sentiment plummeted into fear as Bitcoin dropped below $77,000 following a massive reported security breach at Binance.
Crypto Fear & Greed Index Plummets
Market sentiment shifted dramatically into fear territory as the Crypto Fear & Greed Index registered a reading of 29 on October 30, 2026. According to Cryptobriefing, this represented a sharp 21-point decline from the previous day's score of 51.
The sudden downturn coincided with a broader market slide that pushed Bitcoin below $77,000. Cryptobriefing reported that Bitcoin touched an overnight low near $76,400 before recovering some ground, having previously closed around $77,839 on October 29.
Binance Breach Triggers Massive Liquidations
The catalyst for the selloff traced back to reported security issues at Binance. Research findings indicated that the exchange faced a breach spanning October 29 and 30, with estimated figures ranging in the billions. As a result, BNB, the native token of the Binance ecosystem, fell by approximately 8.5%.
The subsequent market turbulence triggered widespread liquidations across derivatives markets. Over a 24-hour period, approximately $1.57 billion in crypto futures positions were wiped out. Bitcoin accounted for roughly $522 million of these liquidations, while Ether contributed around $361 million.
Broader Market Impact and Technical Outlook
Despite the severe shock to sentiment, broader market metrics remained relatively stable. Cryptobriefing noted that Bitcoin's market dominance hovered near 59%, while the total cryptocurrency market capitalization maintained a level around $2.6 trillion.
Market analysts offered varying perspectives on the technical implications of the drop. Analyst Benjamin Cowen pointed toward potential support near the 200-day moving average around $73,000, noting the historical relevance of election-year trading patterns ahead of the upcoming US midterm elections on November 3.
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