Bitcoin has shed more than 16% over the past week, trading at $61,771 and approaching its February low, while Ethereum dropped 7.92% to $1,651. The Fear & Greed Index has collapsed to 12 — Extreme Fear territory — as total crypto market cap sits at $2.24 trillion with BTC dominance at 55.4%.
Why it matters
Three converging pressures are driving the selloff. Spot BTC ETF outflows have now extended to a 13-day streak, with $4.3 billion exiting the funds — a sustained institutional exit that signals risk-off positioning rather than a temporary dip. Strategy's first-ever disclosed Bitcoin sale, crystallising a $10.8 billion BTC loss, has rattled a market that treated the firm's relentless accumulation as a structural floor. And Zcash plummeted 30% after Shielded Labs revealed a major protocol bug that went undetected for four years, adding contagion anxiety to an already fragile altcoin environment where the Altcoin Index sits at just 48/100.
Market impact
All eyes are now on Friday's U.S. jobs report, which investors are treating as the next macro catalyst for Fed policy signals. A weak print could revive rate-cut expectations and provide relief; a strong print would reinforce the higher-for-longer narrative and extend the pressure on risk assets. BTC's proximity to its February low makes that level a critical technical support — a clean break below it would open the door to a deeper correction.
Source: [source](http://telegraph.controller.bot/files/8336652911/AgACAgIAAxkBAAI39GoieHIen-8ogHjVTON7_GHwPh_tAALLGWsb86kYSZSPsNiDQQyHAQADAgADeQADOwQ)
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