Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
Cryptocurrency markets opened the day under broad pressure, with losses accelerating across major sectors as risk sentiment deteriorated sharply. DePIN tokens led the sell-off, sliding nearly 6%, while Bitcoin fell 4% to break below the $86,000 level and Ethereum dropped more than 4% below $3,000. Weakness extended across Layer 1s, Layer 2s, DeFi, PayFi, and CeFi, accompanied by heavy liquidations totaling $583 million over the past 24 hours, overwhelmingly skewed toward long positions. The sharp downturn has pushed market psychology deeper into panic territory, with the Crypto Fear & Greed Index falling to 11, signaling extreme fear.
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