Bitcoin Dips Below $63K as ‘Extreme Fear’ Grips Crypto Markets.

The crypto market is seeing red again. Over the past day, major cryptocurrencies have taken a hit, with Bitcoin falling 2.4% to $62,725, according to CoinMarketCap. Over the last week alone, it’s lost more than 14% of its value.

Ethereum didn’t fare much better it dropped 4.1% to $1,732, and is down 13.4% over seven days. Other coins like BNB, Monero, and Bitcoin Cash also slid by 3.6%, 8%, and 3% respectively.

The total crypto market cap has shrunk 3.2% in 24 hours to $2.17 trillion. And if you’re wondering about investor mood: the Fear & Greed Index is sitting at just 18 points that’s “extreme fear” territory.

So what’s behind the sell-off? Analysts point to a broader move away from risky assets, investors cashing in profits, and rising anxiety over ongoing geopolitical tensions in the Middle East.