Bitcoin fell sharply, dropping about 13% in a day to around $62,800. The move pushed BTC below the $63,000 psychological level and marked its largest one-day loss since the November 2022 FTX collapse. Major altcoins followed lower, with Ethereum down about 12.9%, Solana around 18%, and XRP near 18.7%.
Market participants attributed the slide to weak US payroll data and concerns over massive AI-related capital expenditure, leaving room for further declines. Analysts cited a stronger risk-off mood as a key backdrop, with the Federal Reserve’s rate pause and geopolitical risk adding to the pressure. Some technicians see long-term support near the 200-week moving average around $60,000, a level that previously acted as a floor.
Investors’ sentiment in the crypto market cooled, with the Fear & Greed Index dropping to 12, signaling extreme fear and potential oversold conditions. Some view the $60,000 region as a plausible mid- to long-term support based on the historical role of the 200-week moving average.
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