The crypto market is stormy again — a fresh wave of uncertainty is on the horizon, and this is clearly visible in both the numbers and the sentiment of participants. The total market capitalization has dropped by 1.83% to $3.28 trillion, while the daily trading volume fell by 7.63% to $123.25 billion. Such metrics indicate that holders and traders are tightening up: against the backdrop of macroeconomic turmoil and geopolitical disputes, many have started to offload risky assets and sit tight in stablecoins.
The Crypto Fear & Greed Index, a barometer of market participants' sentiment, currently shows a value of 48 — the neutral zone. This indicates a division of views among investors: some remain cautious, while others hope for a reversal. The index has moved out of the greed zone it was in earlier this month, signaling a cooling of bullish sentiments. A figure around 48 is interpreted as uncertainty — investors are unsure whether to go long or wait for clearer signals.
Amid political and regulatory risks, pressure on the market is only increasing. Key factors include the escalation of the conflict in the Middle East, fresh threats of trade tariffs from Donald Trump, and uncertainty surrounding the stablecoin regulation bill in the U.S. All of this collectively creates a toxic environment for crypto appetite and causes investors to shed risk.
Bitcoin's dominance in the market is currently at 64%, while Ethereum's share is 9.3%. According to the Altcoin Season Index, which stands at 23 out of 100, altcoins are clearly lagging behind and are not driving the current trend. In other words, there is no sign of an alt season here — the mainstream is still dominated by $BTC .
Mass liquidations and the pain of leveraged traders
In the last 24 hours, according to CoinGlass, more than 105,830 trader positions have been liquidated, equivalent to $319.18 million in fiat terms. The most affected were $ETH long traders — total liquidations for Ethereum amounted to $100.83 million. Bitcoin came in second with $82.89 million in liquidations. Other assets showed moderate figures, but the trend is clear: high volatility is pushing out those over-leveraged in the market.
The largest individual liquidation occurred at #Binance in the ETH/USDT pair and amounted to $4.23 million. This highlights how dangerous excessive margin exposure can be during turbulent times.
Psychology and price action: the market is in a suspended state
The Crypto Fear and Greed Index shows a decline after a recent surge of greed recorded in early June. It temporarily dipped below the neutral level on June 5 and again faltered in the range of June 13-15 — just at the moment of a sharp price drop of Bitcoin from levels above $111,000 to lows around $105,000. This indicates that even major players are experiencing cognitive dissonance: some are taking profits, while others are reluctant to increase their positions.
What is particularly noteworthy is that, despite relatively stable volumes for BTC, the overall market sentiment remains contemplative. Many are waiting for a clear signal: either from the Fed and macroeconomic data or from geopolitical fronts. Until then, activity will be sporadic, and risks will remain disproportionately high.
