The situation in the cryptocurrency market is really serious. I’m watching as a crypto crash gathers speed, and investor sentiment is literally collapsing. The Fear and Greed Index has fallen to 15—the lowest level in over a month—and that says it all about what’s happening.

Bitcoin has fallen below key support at $80,488, and is now trading around $71,300. Ethereum has lost more than 4% over the last 24 hours and is hovering around $2,210. The total market capitalization of the cryptocurrency market has dropped to about $1.43 trillion. This is no longer just an ordinary correction—this is a systematic sell-off we’re seeing across the broader market.

Liquidations reached $735 million over the past day. Ethereum had $272 million worth of positions liquidated, and Bitcoin $249 million. Open interest fell by 5% to $108 billion. This shows how leveraged players are rushing to get out of their positions.

Altcoins have been hit particularly hard. River, Monero, Nexo, Chainlink, and Kaspa are among the biggest losers. This confirms that the crypto crash is affecting the entire ecosystem, not just top coins.

On the macroeconomic front, things are really chaotic. The nomination of Kevin Warsh as chair of Rezerwa Federalna is raising uncertainty—markets don’t believe he will move toward the aggressive interest rate cuts that Trump talked about. Warsh has a reputation as a hawk who consistently opposes quantitative easing.

On top of that, there are geopolitical tensions. Iranian leaders warn of a potential conflict, and the US is increasing its military presence in the region. This strengthens the view that Bitcoin and altcoins are not a safe haven in times of uncertainty—on the contrary, they’re being sold off as investors look for safety.

Technically, Bitcoin looks bearish. It has fallen below the Murrey Math line, is trading below the 50-week moving average, and below the lower boundary of a rising wedge. If the selling holds, we could see a test of the $50,000 support zone. Such a move would be disastrous for the entire sector.

I’m honestly concerned about how the crypto crash is unfolding. Everything points to the bearish momentum being strong and potentially lasting. It’s worth monitoring these key support levels—they could be the last line of defense against further declines.