Bitcoin price has fallen below $110,000, as it barely hangs on above $109,000. This drop coincides with the Crypto Fear and Greed Index falling to 29, as it inches closer to Extreme Fear territory.
Summary
- Crypto Fear and Greed Index has fallen by 16 points in the past 24 hours to 29. This indicates that the market has officially entered a state of Fear as it nears Extreme Fear territory.
- Bitcoin has declined by 2.1%, falling below the $110,000 threshold by around $109,399.
- BTC could see a swift rebound if it manages to surpass the 30-day moving average at $109,526, which could open the door for a retest of the $109,700 to $109,800 zone.
According to data from CoinGlass, the Crypto Fear and Greed Index has dropped by 16 points compared to the previous day as Bitcoin continues its precipitous decline. The index indicates that the crypto market is currently in a state of Fear after witnessing a series of market liquidations and crashes of major tokens.
The last time the Crypto Fear and Greed Index fell into Extreme Fear territory was in April 2025 as well as in mid-February 2025, right after President Donald Trump introduces ‘Liberation Day’ blanket tariffs that shook up the crypto market.
As of 26 Sept., the overall crypto market cap has decreased by 2%, stabilizing at around $3.8 trillion. So far, it has yet to recover from the mass liquidations earlier this week, when it fell below $4 trillion due to a series of long positions liquidating.
Both Bitcoin (BTC) and Ethereum (ETH) have experienced drops ranging around the 2% level. Ethereum has once again fallen under the $4,000, while Bitcoin has taken a heavy hit and slipped below $110,000.
At press time, the largest cryptocurrency by market cap has managed to maintain its price above $109,000 despite an earlier drop today which brought it down to $108,787. However, it has failed to recover past pre-liquidation levels, which stood above $117,000.
Bitcoin price analysis: How low can it fall?
At the moment, BTC is trading at $109,399, showing some weakness after a minor bounce. The price is currently moving below the 30-period moving average, which sits around $109,526, signaling short-term bearish momentum.
Since the moving average acts as the resistance zone, Bitcoin could struggle to push higher in the immediate term unless buying volume experiences a boost that could catapult it up.
BTC’s Relative Strength Index is hovering around 35, nearing the oversold region. This indicates that the asset is under short-term selling pressure, but it also suggests that a potential relief bounce could occur if buyers see this as an attractive entry point.
However, with the RSI still trending downward, the bearish momentum hasn’t fully been exhausted yet, meaning Bitcoin could continue to test lower levels before stabilizing.
If the bear market trend continues, traders could see BTC falling lower towards the $109,200 to $109,000 support range, which has historically provided short-term stability during intraday declines. A decisive break below $109,000 could expose the price to a sharper correction, potentially heading towards $108,800.
On the other hand, there is a still room for a rebound. If Bitcoin can hold above $109,200 and the RSI starts reversing upward, the asset could see a bounce towards the $109,500 to $109,600 zone. For a stronger recovery, BTC would need to reclaim and sustain above the 30-period MA at $109,526, which could open the door for a retest of the $109,700 to $109,800 zone.
